Britons could face a 25% energy bill surge by January as global energy shock rivals 1970s crisis, expert warns

From the Newshound archive · first published 24 September 2026 · last updated 25 September 2026.

Financial journalist Simon Lambert has warned that British households could see energy bills jump by 25% by January, saying billpayers and politicians alike have 'lulled themselves into a false sense of security' over the scale of the looming crisis. Ukraine's major drone strike on Moscow's main oil refinery and Houthi rebels tightening their grip on the Bab el-Mandeb Strait have rattled global energy markets. The warning comes weeks before Ofgem's price cap rises by 4% on October 1, pushing the typical annual bill from £1,663 to £1,723.

More than four million households without smart meters are urged to submit a meter reading before October 1 or risk being overcharged at the new higher rate.

Iran keeps the Strait of Hormuz closed while Houthi rebels now control one of the last remaining escape routes for Saudi oil, squeezing global supply from two directions.