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Britain's energy price cap to rise 13% in July, Cornwall Insight says
Cornwall Insight said higher wholesale prices tied to Middle East conflict will add £209 a year to a typical household bill.
- On Tuesday, analysts at Cornwall Insight forecast Britain's domestic energy price cap will rise by approximately 13% in July, raising typical annual dual-fuel household bills by £209 to £1,850.
- Higher wholesale prices, which climbed following missile strikes and closure of the Strait of Hormuz, are the primary driver of this increase affecting global energy infrastructure.
- This forecast is slightly higher than the 12% increase predicted last month, while Ofgem adjusts the price cap every three months with the next announcement due May 27.
- Cornwall Insight analysts warned, "The bigger concern is October when demand picks up again and current forecasts point to a similar cap level as July," signaling potential payment shocks.
- Simon Francis of the End Fuel Poverty Coalition warned millions of households struggling with energy debt face an "extremely difficult winter," as Craig Lowrey of Cornwall Insight urged the Government to consider targeted support.
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23 Articles
23 Articles
Coverage Details
Total News Sources23
Leaning Left6Leaning Right3Center8Last UpdatedBias Distribution47% Center
Bias Distribution
- 47% of the sources are Center
47% Center
L 35%
C 47%
R 18%
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