British Gas has issued an update to households following the ceasefire between the US and Iran, warning that energy bills could still rise despite short-term stability.
The UK’s largest energy and home services provider said prices will remain unchanged until June 30 but cautioned that increases may follow from July 1 due to ongoing volatility in global markets.
In a video shared with customers, a pricing lead at the company said: “Your prices will remain the same until the end of June.”
He added that wholesale energy costs, which account for around half of household bills, continue to be influenced by international developments.
He said: “Wholesale prices make up roughly half your bill, so spikes in the market can have impacts on the prices you pay.”
The update comes as markets continue to react to geopolitical tensions in the Middle East, despite the recent ceasefire agreement.
On concerns about potential gas shortages, the company said there is no immediate risk to UK supply, saying it’s “not something to worry about.”
He explained that Britain sources gas from a mix of domestic production in the North Sea, renewable energy and liquefied natural gas imports, adding: “We secure reliable gas from a number of sources, so there’s plenty available when it is needed”.
British Gas issues update after Middle East ceasefire
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GETTYBritish Gas also pointed to its operation of the Rough storage facility, which accounts for around half of the UK’s gas storage capacity.
The company said it has secured long-term agreements with international suppliers to ensure stable supply in the years ahead.
On long-term pricing, the firm highlighted the role of renewable and nuclear energy in reducing exposure to global market fluctuations.
The spokesperson said: “Renewables and nuclear both play an important part in the UK’s energy mix.”
Wholesale energy costs remain volatile
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PA“They also help reduce our reliance on volatile global energy markets.”
The company confirmed it is investing in existing nuclear infrastructure and supporting new projects, including the Sizewell C power station.
Customers were also advised to consider their tariff options carefully, adding that fixed deals can offer protection against rising prices and provide certainty over costs.
He said: “On the other hand, a tracker tariff can be cheaper if prices fall. There’s often no right answer, it all depends on how much certainty you want.”
The company said simple changes such as using shorter washing machine cycles and switching off appliances at the plug can help cut costs.
Customers were also informed about the firm’s PeakSave scheme, which offers discounted electricity at specific times.
For longer-term savings, the company pointed to measures such as installing smart heating controls, upgrading to energy-efficient appliances and fitting solar panels.
British Gas said further advice is available to help households manage energy use during a period of continued uncertainty in global markets.