Household energy bills predicted to rise – but not by as much as first feared

• British households are predicted to face an average annual increase of £196 on their energy bills from July.
• The energy price cap is forecast to rise to £1,837 for a typical dual fuel household, according to Cornwall Insight.
• This surge is attributed to continued volatility in wholesale markets, exacerbated by the ongoing conflict in the Middle East.
• In early March, it had warned that annual household energy bills could surge by £332 to £1,973 from July when the next cap comes into effect.
• Wholesale energy costs are not anticipated to return to pre-war levels until the Strait of Hormuz is reopened, which is crucial for global oil and gas transport.

IN FULL

Household energy bills ‘set to rise by lower-than-first feared’ in July