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U.K. Energy Price Cap Could Spike to £3,000 Per Household

  • Level could spike another 50% after surge in wholesale prices
  • Soaring bills contributing to cost-of-living crisis in U.K.
Electricity transmission pylons against a backdrop of cooling towers at a power station in Ratcliffe-on-Soar, U.K.

Electricity transmission pylons against a backdrop of cooling towers at a power station in Ratcliffe-on-Soar, U.K.

Photographer: Chris Ratcliffe/Bloomberg
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The U.K.’s cap on energy prices could spike another 50% in October to more than 3,000 pounds ($4,006) per household following huge gains in the wholesale natural gas and electricity markets, according to Investec Bank Ltd.