Energy bills to jump by £209 from July as households continue to be hit by fallout of Iran war

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Energy bills to jump by £209 from July as households continue to be hit by fallout of Iran war.

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British households are facing another major increase in energy bills after analysts forecast that the Ofgem price cap will rise by £209 a year from July.The cap is now expected to climb 13 per cent, from the current annual level of £1,641 to £1,850, according to energy consultancy firm Cornwall Insight.That figure is higher than last month's forecast, when analysts predicted a £196 rise.Ofgem, which will confirm the new cap on May 27, puts limits on what suppliers can charge per unit of gas and electricity and impacts around two‑thirds of homes not on fixed‑term tariffs.

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TRENDING Stories Videos Your Say The sharp rise in wholesale prices has been driven by conflict involving Iran and wider instability across the Middle East.Prices surged in February and March after US and Israeli missile strikes on Iran, followed by Iranian retaliation that disrupted energy infrastructure across the Gulf.The closure of the Strait of Hormuz, through which around 20 per cent of global oil and gas...

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