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Energy Bills To Jump As Iran Conflict Pushes Up Prices. Millions of households across the UK will see their energy bills rise from July after soaring wholesale costs linked to the Iran conflict pushed prices higher. Energy regulator Ofgem says a typical household will pay an extra £221 a year, bringing the average annual bill to £1,862. The increase mainly affects homes on variable tariffs in England, Scotland and Wales. Suppliers are warning bills could climb even further during winter if the conflict continues. Energy prices have surged after Iran blocked the Strait of Hormuz shipping route, a key global pathway for oil and gas supplies. For the average household, the changes will add around £18 a month to bills. Gas prices are expected to rise by 24 percent, while electricity bills will increase by around five percent. The energy cap currently affects around 33 million households, although customers on fixed tariffs will not see immediate changes until their contracts end.
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