Middle East Oil Crisis Ripple Effects: Global Energy Bills Surge as Renewables Hit Grid Walls

The Middle East war is delivering a harsh winter verdict to British households: energy bills are forecast to hit £1,729 annually from October, a 4% jump that erases the new prime minister's promised VAT cut. Cornwall Insight warns the cap will reach its highest level since July 2023, with gas prices surging due to supply tightness and summer heatwaves forcing more expensive plant usage. The data exposes Britain's continued dependence on volatile...