DID Press: The ongoing war against Iran and rising global gas prices have intensified concerns about increasing energy costs across Europe.
According to The Independent, average annual energy bills for households in the United Kingdom are forecast to reach around £2,200 from January.
The report says wholesale gas prices have climbed to their highest level in four years in recent weeks, putting further pressure on energy markets amid concerns over declining European gas reserves and the approaching winter season.
Wholesale gas prices reached €97 (£81) per megawatt-hour as temperatures fell and demand for heating increased in parts of Europe.
The price of gas for UK consumers is also forecast to rise to 11.13 pence per kilowatt-hour in January. This would exceed the previous record of 10.33 pence recorded in early 2023, following Russia’s invasion of Ukraine.
The prospect of higher energy bills ahead of winter has heightened concerns about the economic pressure on European households, particularly low-income families.