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The Independent UK
The Independent UK
National
Karl Matchett

Bills warning as UK natural gas price hits three-year high of over 158p

United Kingdom Natural Gas
  • UK wholesale natural gas prices reached a three-year high of over 158p per therm due to Middle East conflict and low European storage levels.
  • Although prices have risen, they remain substantially lower than the peak of over 600p per therm recorded in 2022.
  • The price surge will not affect the upcoming October to December price cap, but is expected to push up household energy bills from January.
  • Energy experts warned that the UK remains vulnerable to global geopolitical volatility due to its ongoing dependence on gas for heating.
  • Economists suggested that renewed energy price inflation could lead the Bank of England to keep interest rates on hold.

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