Last mentioned: 13h ago
Regulatory Implementation
New energy price cap levels take effect across all standard variable tariffs in the UK.
Lewis Intervention
Martin Lewis issues a public warning for consumers to switch or fix before the deadline.
Tariff Withdrawal
Major UK energy firms begin removing fixed-price contracts from comparison sites and direct sales channels.
Wholesale Market Reaction
UK wholesale gas and electricity prices experience sharp intraday spikes.
Geopolitical Escalation
Reports of increased tensions in the Middle East trigger concerns over global energy supply routes.
Cap Announcement
The regulator officially announces the new price cap levels effective from Q2.
Wholesale Monitoring
Ofgem begins the assessment period for wholesale energy costs to determine the April cap.
Financial expert Martin Lewis has issued an urgent call for UK households to review their energy tariffs before the April 1 price cap adjustment. The recommendation focuses on locking in fixed rates or switching providers to mitigate potential cost increases as the regulatory landscape shifts.
Major UK energy providers have begun withdrawing fixed-rate deals from the market as escalating tensions in the Middle East drive wholesale price volatility. This defensive move by suppliers aims to mitigate the risk of being locked into loss-making contracts as global energy markets react to geopolitical instability.
UK households face a projected 10% increase in energy bills starting July 2026, driven by escalating geopolitical tensions in the Middle East. This reversal of recent price stability highlights the continued vulnerability of the UK energy market to global fossil fuel volatility.