UK energy watchdog Ofgem stated that the British household energy cap is set to increase by 4% starting from October. The upcoming cap rise lifts family utility bills to their highest level in three years.
Rising costs come after wholesale market stress tied to the war in Iran. The UK Energy Secretary noted green energy rules are also contributing to increased household costs. Combined with strains from the war in Iran, climate policies drive household gas and electricity bills to a three-year high on the back of the 4% rise in October.