Household energy prices are affected by wholesale energy costs, which in turn are determined by a combination of factors, including supply and demand and international events such as war and extreme weather. The amount of available energy supply is a big driver behind household rates, and when supplies run short, energy prices often increase. Energy prices in recent years have been exceptionally high due to a number of reasons, including the resurgence of demand following the pandemic and the conflict in Ukraine causing supply issues throughout Europe.