UK energy price cap could rise by 500 stg more

April 12, 2022: British gas and electricity bills are likely to rise by a further 500 pounds ($651.35) this autumn as the war in Ukraine weighs on wholesale energy prices, according to The Times.

An initial assessment from the energy regulator Ofgem concluded the energy price cap is on course to rise to about 2,400 pounds in October, the report said.

However, there is considerable uncertainty in the estimate and it could be higher if the disruption to markets continues throughout the summer, Ofgem warned ministers, according to the newspaper.

Reuters