UK energy price cap goes up, investors eye gas bills and consumer credit
UK household energy bills are climbing in July, pushed up mainly by gas. Unit rates for gas under Ofgem’s cap jumped 27.7% from Wednesday. That’s much sharper than the 5.8% rise for electricity. Centrica, which owns British Gas, and Iberdrola, parent of ScottishPower, both have more room to charge higher prices if the cap rises. But a higher cap could mean more customers fall behind on bills or push up bad debts and the chance of new tariff rules. Centrica owns British Gas. ScottishPower is under Iberdrola.