UK firms withdraw from fixed energy contracts amid rising prices from Iran conflict

Energy company representatives discuss fluctuating prices and contract changes during a press conference in London.

The conflict has resulted in increased volatility in the energy markets, with Brent crude oil prices soaring to over $100 per barrel for the first time since 2022. This spike has forced energy suppliers to reconsider the viability of fixed-rate deals, which previously offered consumers stability and predictability in their energy costs. Companies such as … Read more