Households hit by rising energy bills as Iran war bites – Daily Business
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Households will pay more from July (pic: DB Media Services)
Household energy prices will rise by 13% or an average of £221 a year in July as the Iran war has forced up wholesale costs.
Regulator Ofgem, announcing its latest price cap, says the average annual bill will be £1,862.
Energy costs could rise again in October if the Strait of Hormuz shipping route continues to be blocked.
The jump will equate to a rise of £18 a month for the average household using both electricity and gas, with households seeing an increase of 24% on their gas bills and 5% on their electricity bills.
The energy cap covers millions of households in England, Wales and Scotland. Regulation and bills are different in Northern Ireland.
The new price cap is £724 more than the amount households were being charged before the energy crisis hit in the autumn of 2021, an increase of 64%.
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