EconomyBritons face ‘risk premium’ for energy as US-Israel war on Iran intensifies

Ofgem will raise the UK energy price cap by 4 percent from October 1, 2026, after wholesale gas prices surged amid the US-Israel war on Iran. A typical household is expected to pay about £60 more annually. A government electricity-tax cut may provide some relief, but experts warn geopolitical volatility and import dependence will continue to weigh on costs.

UKenergy pricesIran warStrait of Hormuz

AAl Jazeera★★★★☆2026-09-01 08:14Original