FILE PHOTO: Flames come out of a domestic gas ring of an oven in Durham, Britain, Sept 23, 2021. [Photo/Agencies]
British people will soon be paying an average of 221 pounds ($297) more each year for the energy they consume, largely because of restricted flow due to the Iran war.
The change follows a decision on Wednesday by the United Kingdom's energy regulator — the Office of Gas and Electricity Markets, or Ofgem — to increase the country's cap on household energy prices by 13 percent from July 1.
The regulator said it needed to increase the cap because of fast-rising wholesale energy costs attributed to the conflict that was started by the United States and Israel on Feb 28, and the resulting closure of the Strait of Hormuz.
Ofgem said the change means the average UK household will pay 1,862 pounds a year for gas and electricity, up from 1,641 pounds.
