finance
UK Energy Price Cap Forecast to Rise 13 Percent for July-September Period
Cornwall Insight projects the typical dual-fuel household bill will reach £1,850 between July and September. The forecast attributes the increase to wholesale price volatility linked to developments in the Middle East.
May 20, 10:00 AM·1m read1 source
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Cornwall Insight has issued its final forecast for the July to September energy price cap. The typical dual-fuel household bill is projected to reach £1,850, a 13 percent increase from the current level of £1,641. The forecast links the rise to volatility in wholesale energy markets. U.S. strikes on Iran.
The report states that the wholesale market has been damaged by the conflict and disruption to energy flows through the Strait of Hormuz. com reported that Iran closed the strait in response to the strikes. Analysts at Cornwall Insight said elevated prices could continue into the winter months. The firm cited infrastructure damage and longer-term supply disruptions as contributing factors.
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