Household energy prices in England, Scotland and Wales will rise by 13% a year in July, as soaring wholesale costs caused by the US-Israel war with Iran hit bills for the first time.
Regulator Ofgem says the war means a household using a typical amount of gas and electricity will pay £221 more a year, with an annual bill of £1,862.
The cap affects millions of homes on variable tariffs and suppliers are warning it could go even higher in the colder winter months without an end to the conflict.
Energy costs have rocketed since Iran responded to US and Israeli attacks by effectively blocking the crucial Strait of Hormuz shipping route – a fifth of the world’s oil and gas usually flows through the waterway.
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