- UK households are predicted to face a 10 per cent increase in energy bills from July, according to analysts at Cornwall Insight.
- The energy price cap for July to September could reach £1,801 annually for a typical dual fuel household, representing a £160 hike.
- This projected rise is attributed to soaring wholesale gas prices, driven by escalating conflict in the Middle East.
- Recent events, including damaged oil and gas infrastructure, QatarEnergy pausing LNG production, and Iran's warning regarding the Strait of Hormuz, have disrupted global supply.
- Experts warn that while the final cap depends on market volatility over the next three months, the situation highlights the UK's exposure to international markets and the need for more renewable generation.
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