UK energy price cap to rise 4 percent in October
British energy regulator Ofgem announced a 4 percent increase in the domestic price cap starting in October. The rising costs driven by the war in Iran will add sixty pounds to average household bills.
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The United Kingdom energy regulator Ofgem announced a 4% rise in its domestic price cap on Tuesday morning, pushing bills up by £60 to £1,723 ($2,348) from October. The hike hits 22 million households on variable tariffs as military conflict in Iran drives up wholesale costs. The increase deals a blow to Prime Minister Andy Burnham, erasing recent tax cuts on electricity bills.
