UK Energy Bills to Hit Three-Year High as Gas Prices Surge

UK energy bills are set for a three-year high at the beginning of the winter, as higher gas prices due to the Iran war have prompted the energy regulator to raise the energy price cap on household costs by 4% for October through December. The UK energy regulator Ofgem on Wednesday published its quarterly energy price cap decision, announcing a 4% increase in the cap for the period between October 1 and December 31, 2026. The UK has a so-called Energy Price Cap in place, which protects households from excessively high bills by capping the price…