UK Energy Price Cap Rises

Millions of UK households are facing a sharp increase in their energy bills following Ofgem's decision to raise the price cap.

The 13% hike, which takes effect in July, is expected to push average annual costs up by more than £200 per family.

Regulator officials noted that the rise is a direct consequence of global gas market volatility sparked by the war in Iran and the closure of the Strait of Hormuz.

This development has placed fresh pressure on the Labour government to address the cost-of-living crisis and has fueled calls for a rethink of the nation's long-term energy security strategy.