Greetings,
In this video I talk about the ongoing and relentless hikes in the cost of energy in the UK. This is a Europe-wide phenomenon and is, to an extent, a result of the ongoing event in Russia/Ukraine. Having said that, there are multiple other factors contributing to it, compounding the problem in the UK.
GBP is nearly at parity with the mighty Dollar, which means it is the lowest it’s been in decades - at least since 1985 apparently. That’s devastating to a country like the UK because we import a lot of things which have to be paid for in the currency of international trade - USD. We also have to import oil and gas, again in dollars, converting our Sterling which continues to plummet.
The real issue, however, is the fact that many people are starting to really struggle with the price of energy here. This winter, especially if it’s a very cold one like it’s predicted to be, is going to be particularly hard for the elderly, many of who already struggle with their fixed income’s and pensions’ decreasing buying power.
This winter, many are going to have to chose between eating and heating. That’s a painful reality in a country like the UK.
Peace & Love,
Adé
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