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UK Energy Bills Set to Rise 10% from July Amid Middle East Supply Disruptions
Analysts predict a 10% rise in the energy price cap from July, raising typical dual-fuel household bills to £1,801 amid Middle East supply disruptions.
- Household energy bills are forecast to rise by 10% from July following sharp increases in wholesale gas prices driven by the escalating conflict in the Middle East.
- Following US and Israeli missile strikes on Iran, retaliatory attacks from Iran damaged oil and gas infrastructure across key Gulf states, forcing QatarEnergy to pause liquified natural gas production at several sites.
- Although Europe and the UK do not rely heavily on Qatari LNG, reduced supply will affect major Asian importers, meaning competition in the global market is expected to intensify, pushing prices up.
34 Articles
34 Articles
Craven Herald
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Household energy bills could rise by £160 if the war in Iran drags on, analysts warn. A prolonged conflict would also hit UK growth and could see interest rates rise for the first time since 2023, according to forecasts. The price of oil and gas has soared since bombing began at the weekend, sparking fears over inflation and the cost of living. Researchers at Cornwall Insight said the rising prices could push average household bills to £1,801 ye…
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