UK Energy Price Cap Rises 13% as Iran War Drives Up Costs

UK households face the biggest increase in energy bills since 2023 as the war in Iran lifts wholesale gas and power costs. The jump adds to broader inflationary pressure, creating a negative backdrop for consumers and the UK economy. The move is likely to feed through to household spending power and near-term inflation expectations.

Analysis

UK households face the biggest increase in energy bills since 2023 as the war in Iran lifts wholesale gas and power costs. The jump adds to broader inflationary pressure, creating a negative backdrop for consumers and the UK economy. The move is likely to feed through to household spending power and near-term inflation expectations.