Energy bills set to rise amid Iran war crisis – how much by and when

• Energy bills are predicted to rise by nearly £300 in July, with forecaster Cornwall Insight estimating the Ofgem price cap will reach £1,934.
• This projected increase would bring the price cap to its highest level since July 2023.
• The rise is primarily driven by wholesale gas prices, which have more than doubled since US strikes on Iran at the end of February.
• Concerns are heightened by Iran's warning that the Strait of Hormuz, vital for global oil and gas transit, is 'closed'.
• A minister for energy consumers stated the government is committed to tackling the affordability crisis and will intervene if necessary, as a new, lower price cap takes effect tomorrow, protecting households until June.

IN FULL

Energy bills predicted to surge by £288 a year from July as rise ‘unavoidable’