Martin Lewis says ‘it ain’t looking good’ for energy bills | Personal Finance | Finance
The vital Strait of Hormuz waterway has been closed once again, sending the price of oil skyrocketing. The latest energy price cap had already gone up 13 per cent in the UK as a result of the Iran-US war. The next price cap, which will be announced on August 26 and will run from October 1 until December 31, had already been predicted to rise despite the signing of a Memorandum of Understanding (MOU) between Donald Trump and Iran. But the resumption of strikes means prices are once again set to go up. Money-saving expert Mr Lewis said: “Graphs show what’s likely to happen to energy bills…it ain’t looking good. “The big changeable factor in the price we pay for home energy is wholesale rates. And this UK natural rate is the main driver of both gas and electricity bills, as gas is involved in electricity generation. “The impact of the Middle East conflict which started on Feb 28 is clear. It is the prime reason most people’s bills are rising. “P.S Most of our …








