ECIU in the news as energy prices and climate policy ripple post-Hormuz tensions. UK-based non-profit since 2014, independent energy/climate analysis.
Energy bills in Great Britain are forecast to increase significantly from July, with Cornwall Insight predicting a rise to nearly £1,929 annually due to soaring wholesale prices driven by Middle East conflicts. The government is considering targeted support as the current price cap remains until June.
The conflict in Iran has pushed up energy prices and fuel costs, with gas and oil contributing to higher household bills. The price cap review set for 1 July to 30 September 2026 is expected to show a rise, while a think tank identifies towns most vulnerable to energy-spending shocks.
Oil prices are lifting inflation pressures while central banks hold rates at current levels. Recent data show jobs strength and firmer services costs, prompting caution on policy paths amid war-linked supply disruption.
Gas prices have stayed high amid ongoing tensions in the Hormuz Strait and the Iran conflict. Analyses suggest a slow rebound in prices, with travel costs and fuel affecting consumer budgets for the coming months.
NOAA has confirmed El Niño, forecasting it may become one of the strongest on record, with widespread weather disruptions. The pattern is expected to heighten heat globally, trigger extreme events, and influence economies and food systems as nations brace for shifting climate impacts.