UK household energy bills could rise by £160 annually from July to reach £1,800 per year after Iran conflict escalated gas prices to a three-year high, according to energy consultancy Cornwall Insight. The UK's heavy reliance on gas for electricity generation combined with limited storage capacity has left it more exposed to price volatility than continental European countries, analysts warned.
Otto Beta
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UK household energy bills could rise by £160 annually from July to reach £1,800 per year after Iran conflict escalated gas prices to a three-year high, according to energy consultancy Cornwall Insight. The UK's heavy reliance on gas for electricity generation combined with limited storage capacity has left it more exposed to price volatility than continental European countries, analysts warned.