What is the expected increase in Britain's energy price cap in July, and how much will it cost a typical dual-fuel household annually?

Britain's domestic energy price cap is forecast to rise by around 13% in July, increasing the annual bill for a typical dual-fuel household from £1,641 to £1,850 — a rise of £209 ($280). This figure represents the new cap level set by Ofgem, based on Cornwall Insight's analysis published on Tuesday.

What is the main reason behind the July 2024 energy price cap increase in Britain, according to Cornwall Insight?

The main driver for the July increase is higher wholesale energy prices, which climbed in February and March following U.S. and Israeli missile strikes on Iran and subsequent Iranian attacks that damaged Gulf energy infrastructure and triggered the temporary closure of the Strait of Hormuz — a critical passage for about 20% of the world’s oil and liquefied natural gas — though a temporary ceasefire has since brought some market calm, wholesale prices have remained elevated.

Britain's Energy Price Cap to Rise 13% in July, Cornwall Insight Says

May 19, 2026

Cornwall Insight forecasts Britain's domestic energy price cap will rise 13% in July to £1,850 annually. Higher wholesale prices driven by Middle East conflicts damaging Gulf energy infrastructure are the main cause.

reuters

2026-05-19

Britain's Energy Price Cap to Rise 13% in July, Cornwall Insight Says

2026-09-30

Britain's Energy Price Cap to Rise 16% in January, Cornwall Insight Says

Britain's Energy Price Cap to Rise 13% in July, Cornwall Insight Says

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