UK energy watchdog Ofgem confirmed that the British household energy cap will rise by 4% beginning in October. The upcoming cap rise pushes household gas and electricity bills to a peak over three years.
Elevated prices follow market pressures tied to the war in Iran. The UK Energy Secretary stated green energy rules are also contributing to higher consumer bills. Together with strains from the war in Iran, green initiatives lift household gas and electricity bills to a three-year high following the 4% rise in October.