Live Updates > Live Update Details
2026-05-27 14:20:27
[UK Energy Price Cap to Rise 13% from July, Household Bills to See Largest Increase Since 2023] (1) UK household energy bills will see the largest increase since 2023 due to the impact of the war with Iran pushing up wholesale gas and electricity prices, further exacerbating inflationary pressures in the country. (2) The UK energy regulator Ofgem announced that the energy price cap will be raised by 13% to £1,862 from July 1. Previously, the price cap was based on pre-conflict data, and this adjustment is the first to fully reflect the impact of the turmoil in the Middle East. (3) Since the start of the conflict, UK near-month gas futures prices have risen by more than 40%, while electricity contract prices have risen by nearly one-third during the same period. (4) Energy consultancy Cornwall Insight predicts that UK energy bills will rise again in October and warns that even if the conflict ends quickly, prices will be difficult to return to April levels due to damaged infrastructure and long-term energy supply disruptions.
