British energy bills are set to rise this summer, the sector regulator announced on Wednesday, as the Middle East war drives wholesale gas prices higher, reports AFP.
Energy market regulator Ofgem said the price cap that suppliers can charge customers will increase by 13 per cent from July, adding around 18 ($24) per month to the average bill.
A typical annual bill for gas and electricity will rise to about 1,862 per year, Ofgem, which sets the cap every quarter, said in a press release.
The regulator cited “volatility in global energy markets” as a reason for the unusual summer increase, a period when energy demand is typically lower.
“Higher wholesale gas prices, driven by ongoing conflict in the Middle East, is impacting the price we pay for energy,” said Ofgem chief executive Tim Jarvis.
