Bill payers are facing another financial squeeze, with energy costs now expected to rise again this summer as global tensions push prices higher.
The head of Energy UK has warned a price cap increase is “inevitable”, raising fears of a renewed cost-of-living hit.
Chief executive Dhara Vyas said the situation is “wildly unpredictable”, with energy firms tracking gas prices daily amid sharp market swings.
Her warning comes as the Resolution Foundation said the average household could be £480 worse off due to rising energy costs. Income growth is now expected to slow to just 0.6%, down from earlier forecasts of 0.9%, as higher bills eat into finances.
Vyas said a July 1 increase in the price cap now looks unavoidable, although the scale of the rise remains unclear. She pointed to escalating geopolitical risks, including threats linked to Donald Trump involving the Strait of Hormuz, which have already triggered fresh volatility in global energy markets.
Prices briefly dipped before surging again, underlining how quickly costs can spike.
She warned the UK’s energy security is now more exposed than ever, not due to immediate shortages but because of limited control over global pricing.
With pressure mounting, she called on the Government to urgently expand targeted support, arguing that millions of vulnerable households are still missing out on help such as the warm homes discount.
As households brace for higher bills, experts at Utility Bidder say there are simple but often overlooked boiler settings that could cut costs immediately:
Making small adjustments now can deliver meaningful savings as bills are set to rise again.
While long-term solutions depend on shifting to clean energy, households are being urged to act now as volatile global markets continue to drive uncertainty and the risk of further price shocks.