Arabic version: الرئيس التنفيذي لشركة غاز بريطانيا يحذر من زيادة فواتير الأسر الحتمية

Chris O’Shea, the CEO of Centrica, which owns British Gas, has stated that an increase in household energy bills is “inescapable” if high oil prices persist due to the ongoing conflict in Iran. According to BBC News, O’Shea emphasized that the effective closure of the Strait of Hormuz has significantly impacted oil supply, while the effects on gas supply have been minimal.

O’Shea referred to a forecast by consultancy Cornwall Insight, predicting an average rise of £332 in energy bills across England, Scotland, and Wales starting in July. This follows an average decrease of £117 in April due to the energy price cap. He noted that if the current situation remains unchanged, the increase in bills is unavoidable.

The situation has escalated since the onset of the US-Israel war with Iran, which has resulted in a 45% surge in crude oil prices, reaching $106 per barrel. The Strait of Hormuz, a crucial passage for approximately 20% of the world’s oil supply, has been effectively closed due to Iranian actions against shipping.

Despite the turmoil in oil markets, O’Shea indicated that only 3-4% of global gas supply has been affected, suggesting that the impact on electricity bills will be less severe than that on petrol prices. He expressed a preference for “targeted” government support for energy bills rather than broad measures.

In response to rising costs, the UK government is convening an emergency meeting to explore strategies to mitigate the potential impact on the cost of living. Housing Secretary Steve Reed mentioned that the government has already initiated a £53 million support package for homes facing increased heating oil prices, although he dismissed the idea of capping profits for energy companies at this time.