Electric Ireland also announced a 7.7% rise in the cost of domestic gas

Families being squeezed by rising prices face a fresh blow today as the energy regulator is set to announce a £200 rise in annual bills.

The energy price cap governs the price of energy for the two thirds of Britons who are not on fixed-term contracts.

The average household using both electricity and gas will see an increase of about £18 per month.

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Households are set to pay an additional £221 each year

“Ongoing conflict in the Middle East is impacting the price we pay for energy,” the head of the U.K.’s energy regulator said.

Reuters reported that the ongoing war against Iran and escalating tensions in the Middle East have driven up global gas prices, leading ...

A typical household would see bills rise by £221 a year, but homes on fixed tariffs are not affected.

FILE PHOTO: Flames come out of a domestic gas ring of an oven in Durham, Britain, Sept 23, 2021. [Photo/Agencies]

Impact of both price hikes could leave many households worse off by more than €250 a year

The news will sharpen the debate on household supports ahead of the budget

Electric Ireland also announced a 7.7% rise in the cost of domestic gas

Costs keep rising but we don’t see contingencies in place