Ofgem raises energy price cap; gas bills jump 24% and electricity up 5% for 33 million UK households
Britain’s energy regulator Ofgem has raised its price cap, lifting household gas bills by 24% and electricity bills by 5%, largely due to higher gas costs. Cornwall Insight said the fallout from the USIsraeli war with Iran continues to push up energy prices into the winter even after a temporary USIran truce. The new cap covers 33 million households, and the push to submit meter readings has grown more urgent as smart meter take-up remains limited.