UK households could face another sharp rise in energy bills this summer as tensions in the Middle East continue affecting global gas and oil markets. Market forecasts have warned that disruption linked to tensions involving Iran and the United States could keep wholesale prices elevated ahead of winter.
Ofgem is expected to announce its latest energy price cap for England, Scotland and Wales this week, setting the maximum rates suppliers can charge households from July. Current industry forecasts from Cornwall Insight suggest the average annual dual-fuel bill could rise by around £209, taking typical yearly costs from £1,641 to about £1,850.
