UK energy regulator Ofgem stated that the British power price ceiling will rise by 4% beginning in October. This price cap increase pushes household gas and electricity bills to the top mark in three years.
Higher rates come after industry strains tied to the war in Iran. The UK Energy Secretary stated decarbonisation measures are further adding to higher consumer bills. Along with strains from the war in Iran, decarbonisation rules lift household gas and electricity bills to a three-year high on the back of the 4% rise in October.