UK Household Energy Bills Will Triple On New Price Cap

British energy market regulator Ofgem announced an 80-percent hike in the energy price cap aimed at shielding consumers from price swings, promising to plunge millions more into energy poverty. The chief executive of Ofgem, Jonathan Brearley, said that the hike would have a "massive impact" on households in the country, as annual electricity expenditure soars to the pound equivalent of over $4,100, Reuters reported. That's not all, either. Brearley warned that another hike in the price cap would be coming in January, raising household energy bills…