Household energy bills in Great Britain ‘could rise to almost £2,000 a year’ amid Iran war shock
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Energy bills in Great Britain are predicted to rise significantly due to the war in Iran impacting gas prices. Cornwall Insight forecasts that typical household gas and electricity bills could reach £1,972 annually from July, a more than £330 increase. This surge is attributed to a 30% rise in European gas prices after damage to a major gas processing facility in Qatar, a key supplier. Although gas prices have eased slightly, they remain double pre-war levels. The International Energy Agency has urged governments to consider energy conservation measures. The current price cap of £1,641 for April to June will likely be followed by a sharp increase, adding to household financial pressures alongside potential mortgage rate hikes.
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