LONDON -- The United Kingdom's (UK) energy regulator said on Tuesday that the country's energy price cap for April to June will increase by 6.4 percent, driven by a recent surge in wholesale prices.

The price cap, which limits the maximum rate per unit and standing charge that can be billed to customers, will rise by more than 110 British pounds (about $139) per year for an average household, according to the Office of Gas and Electricity Markets (Ofgem).

As a result, the annual cost of gas and electricity for a typical household will rise to 1,849 pounds a year, up from the current 1,738 pounds.

Set quarterly, the energy price cap has now increased for three consecutive periods. The 6.4 percent hike is higher than the 5 percent rise anticipated by market analysts.

"Our reliance on international gas markets leads to volatile wholesale prices, and continues to drive up bills," said Jonathan Brearley, chief executive officer (CEO) of Ofgem, calling for more investment in a cleaner, homegrown energy system.

Approximately 78 percent of the upcoming price increase is due to rising wholesale costs, Ofgem has said, while the remaining 22 percent comes from a slight uptick in policy costs and inflationary pressures.

The annual cost of 1,849 pounds is 9.4 percent higher than the same period last year, but 22 percent lower than the peak of the energy crisis at the start of 2023, the energy regulator added.

"Energy debts that began during the energy crisis have reached record levels and without intervention will continue to grow. This puts families under huge stress and increases costs for all customers," Brearley warned.

While calling for more government support, the CEO also encouraged those struggling with their energy bills to reach out to their suppliers for help.

Looking ahead, energy consultancy Cornwall Insight forecasts a small decline in bills from July, with annual costs expected to drop to 1,756 pounds. "Over the past two weeks we have seen a dip in the energy market, as US-Russia talks on a potential end to the Ukraine war continue," the company said.