Energy Bills in the UK Will Rise a Cruel and Unusual 54% in April

For more crisp and insightful business and economic news, subscribe to The Daily Upside newsletter. It's completely free and we guarantee you'll learn something new every day.

An afternoon spot of tea might soon come with an afternoon spot of energy, as struggling Britons seek to ration power during the largest utility hike in memory.

Energy bills in the UK are set to jump to the highest level in over a decade, after regulator Ofgem announced Thursday it is raising the upper limit utilities can charge for electricity and gas. Beginning in April, 22 million households can expect their annual energy bills to rise 54%, or £693 ($940), to an average of £1,971 ($2,670).

Source Fool.com