UK Household Energy Bills Forecast to Rise 13% This Summer Amid Iran War-Driven Energy Price Spike

GateNews
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According to Cornwall Insight, UK household energy bills are forecast to rise 13% this summer, reaching £1,850 (approximately $2,479) annually from July 1, marking the largest increase since 2023. The forecast reflects a sharp surge in European energy prices following Iran's military conflict and the closure of the Strait of Hormuz since late February. UK natural gas futures have risen roughly 50%, while electricity futures are up approximately one-third.
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