![\"Couple](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2026\/05\/4_Man-And-Woman-Checking-Payment-Bills-In-The-Kitchen-At-Home-Planning-Family-Budget.jpg\")
<\/p>\nRegulator Ofgem is preparing to announce an expected jump in its energy price cap, fuelled by the Middle East conflict, but households are being advised to act to more than cancel out any hike<\/p>\n
Millions of households face a worrying jump in Ofgem’s energy price cap in July(Image: Getty Images\/EyeEm)<\/p>\n
Households are being urged to bag cheap energy deals<\/a> ahead of an expected price hike.<\/p>\n Regulator Ofgem<\/a> is set to announce what its price cap will be from July 1 on May 27. The observation window, during which Ofgem calculates factors such as the wholesale costs suppliers face, closes on Monday next week. It incudes a long spell during which those costs have jumped as a result of the US-Israel war with Iran<\/a>, which erupted at the end of February.<\/p>\n Industry experts Cornwall Insight is currently forecasting that the price cap, which applies to around 33 million customers on standard variable tariffs, will jump from an average of \u00a31,641 a year to around \u00a31,843 a year from July 1. It is due to update its prediction on Friday.<\/p>\n The jump comes just as many households are feeling the economic fall-out from the Middle East war through higher inflation, a leap in fuel prices, and the threat of even higher food costs.<\/p>\n However, households are being encouraged to join the estimated 21 million customers who are on a fixed energy deals, which lock in the unit rate households are charged for set period of time.<\/p>\n Latest research by comparison website Moneysupermarket shows there are fixed deals as low as \u00a31,585 – saving households a potential \u00a3258 a year on the forecast price cap from July. That is based on a year long fixed deal from supplier Outfox Energy. Its top 10 cheapest deals also include 12 or 13-month long fixed deals from Fuse Energy, E.on Next, Ecotricity, Sainsbury\u2019s Energy, and SO Energy.<\/p>\n Calls are growing on the government to help low income households with higher energy bills(Image: monkeybusinessimages via Getty Images)<\/p>\n READ MORE: Airlines cutting fares as Iran war fall-out leaves travellers nervous<\/a>READ MORE: Energy giant E.on announces mega Ovo takeover – what it means for customers and YOU<\/a><\/p>\n Laura Hinton, from Moneysupermarket Energy, said: \u201cWhen global uncertainty sent wholesale gas prices spiralling in March, fixed deals virtually disappeared from the market. However, in recent weeks we\u2019ve seen providers begin to bring back more competitive deals, with fixed tariffs that beat the price cap currently available on the market.<\/p>\n![\"Close](\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2026\/05\/1_Close-Up-Of-Woman-Opening-American-Dollar-Energy-Bill-During-Cost-Of-Living-Crisis.jpg\")
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