Energy bills forecast to surge by £288 a year from July due to Iran war

Maria Simulescu

Energy bills are predicted to surge by £288 in July because of the ongoing Middle East war, households have been warned. Industry experts Cornwall Insight hiked its latest forecast for Ofgem’s price cap by 18% to £1,929 a year. The leap follows rocketing wholesale energy costs on the back of the conflict between the US and Israel and Iran. Cornwall Insight has been updating its forecast weekly given the scale of the potential impact on bills. Ofgem ’s cap limits the unit rate paid by tens of

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