Ofgem raises energy price cap, increasing household bills
Ofgem raised the energy price cap by 13%, lifting the annual typical dual fuel cap from £1,641 to £1,862 and adding roughly £18 per month for average households from July. The regulator linked the change to higher wholesale gas prices driven by the Middle East conflict, and said gas bills will rise about 24% while electricity rises about 5%. Ofgem noted 40% of accounts (22 million) are on fixed tariffs and not affected. Analysts and campaigners warned of continued pressure ahead of the October cap review and urged clearer targeted support for vulnerable households.
Average household bills rise by about £18 per month from July
Context
The Iran war began on February 28 and led to a blockade of the Strait of Hormuz. This…
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