Ofgem to Reveal July Energy Price Cap as Bills Set to Rise
Cornwall Insight forecasts a £209 annual increase as higher wholesale gas costs and Middle East disruption push bills up.
- On Wednesday, Regulator Ofgem will reveal the annual energy price cap for July to September for typical dual fuel households across England, Scotland, and Wales.
- Energy costs have surged after Iran blocked the Strait of Hormuz, a critical shipping route through which a fifth of the world's oil and gas passes.
- Analysts Cornwall Insight predicted last week the cap will rise by £209 to £1,850 from July 1, a 13 per cent increase from April's £1,641 annual rate.
- Chancellor Rachel Reeves stopped short of immediate energy measures, though the Government insisted "tackling the affordability crisis is our number one priority." Campaigners warned of an "extremely difficult winter."
- Infrastructure damage means the October cap will likely remain high even if the Middle East conflict ends soon. Simon Francis, co-ordinator of the End Fuel Poverty Coalition, urged immediate Government action before winter.
20 Articles
20 Articles
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