UK households urged to fix energy bills amid fears of Iran war price hikes

WorldBusiness & Finance
4 Mar 2026 • 9:27 PM MYT
The Independent
The Independent

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  • UK households are being advised to secure fixed-rate energy deals as providers rapidly withdraw offers from the market.
  • Some 57 energy tariffs have been removed or repriced since Monday, driven by rising wholesale gas prices.
  • Wholesale gas rates have almost doubled due to escalating conflict in the Middle East, including US and Israeli strikes on Iran and Iranian retaliation.
  • Moneyexpert Martin Lewis has urged households to "urgently" consider a fixed-rate deal to protect against potential future price hikes.
  • An influential think tank, the Resolution Foundation, has warned that sustained conflict could add £500 to typical annual energy bills.

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