business
Iran war impact to hit household energy bills for the first time
Key takeaways
- Kevin Peachey Cost of living correspondent Getty Images Household energy prices will rise sharply in July, as soaring wholesale costs caused by the impact of the Iran war hit UK bills for the first time.
- On Wednesday, regulator Ofgem will publish details of its new price cap affecting millions of homes on variable tariffs in England, Scotland and Wales.
- Analysts predict a rise of 13% on the current cap, which would mean a household using a typical amount gas and electricity paying £209 a year more than now, with an annual bill of £1,850.
Kevin Peachey Cost of living correspondent Getty Images Household energy prices will rise sharply in July, as soaring wholesale costs caused by the impact of the Iran war hit UK bills for the first time.
On Wednesday, regulator Ofgem will publish details of its new price cap affecting millions of homes on variable tariffs in England, Scotland and Wales.
Analysts predict a rise of 13% on the current cap, which would mean a household using a typical amount gas and electricity paying £209 a year more than now, with an annual bill of £1,850.
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