Britain scrambles $12 billion to soften 54% household energy price blow

Second major increase in energy bills in 6 months, largest on record; set to drive millions of households into fuel poverty

Energy prices for millions of Britons will soar from April after a 54 per cent hike to the regulatory price cap, forcing the government to stump up 9 billion pounds ($12 billion) of fresh support for already cash-strapped households.

Responding to the record global gas prices that have sent almost 30 British energy suppliers to the wall, regulator Ofgem said the cap on the most widely used tariff would rise to £1,971 ($2,670) a year from April, the same month that taxes rise.

Finance Minister Rishi Sunak, said he had no option but to intervene to take the “sting out of a