Why energy bills are rising again this week

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleEnergy bills will rise from the start of July (Peter Byrne/PA) (PA Wire)UK households will see annual energy bills rise by £221 from 1 July, pushing the average yearly cost to £1,862 due to a 13 per cent increase in Ofgem's price cap. This significant rise was initially driven by soaring global energy costs, exacerbated by the Middle East conflict and Iran's blockage of the Strait of Hormuz. However, an interim peace deal has led to the reopening of the vital shipping route, contributing to a reduction in oil and natural gas prices. Consequently, analysts at Cornwall Insight now anticipate the energy price cap will remain relatively stable in October, easing fears of further increases before winter. Despite this, record energy debt of £4.79 billion was recorded to March, prompting calls from Good Energy for market reforms to lower bills and incentivise clean energy. In fullHousehold energy bills to rise by £221 a year from WednesdayThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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