Energy price cap in Great Britain to rise by 13% from July
Summary
Energy prices in Great Britain will rise by 13% from July to September, increasing the average household energy bill to about £1,862 a year. The rise is due to higher global energy costs caused by the war involving Iran and supply disruptions, leading to higher gas and electricity charges under the government’s price cap.Key Facts
- The energy price cap in Great Britain will increase by 13% starting in July until the end of September.
- Average yearly household energy bills under the cap will rise to £1,862.
- Electricity prices for direct debit payers will go up from 24.67p to 26.11p per kilowatt hour (kWh).
- Gas prices for direct debit payers will increase from 5.74p to 7.33p per kWh.
- The rise is linked to the war on Iran disrupting oil and gas exports from the Gulf region.
- Gas prices in Europe have more than doubled from before the crisis, partly due to halted Russian gas exports after the Ukraine invasion.
- Petrol prices have increased nearly 20%, and diesel prices have risen over 30% at the pump in the UK.
- Household energy debt reached a record £4.5 billion, with unpaid bills partly covered by a £52 annual charge included in the price cap.
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