UK's Ofgem to raise energy price cap 13% as gas costs climb

Ofgem said it will raise the UK energy price cap by 13% from July to September, adding about £18 ($24.20) per month for households using both electricity and gas. The increase reflects surging energy prices tied to the Iran war, creating an inflationary headwind for UK consumers and a meaningful market-wide energy shock.

Analysis

Ofgem said it will raise the UK energy price cap by 13% from July to September, adding about £18 ($24.20) per month for households using both electricity and gas. The increase reflects surging energy prices tied to the Iran war, creating an inflationary headwind for UK consumers and a meaningful market-wide energy shock.