The report, “Lowering Great Britain’s electricity bills – recommendations for government” examines that, the once-again rising gas price is set to further fuel inflation and the cost-of-living crisis in the UK, with electricity bills not projected to fall again until the 2030s. However, with the right package of interventions, targeting each component of a bill, government could lower household and business electricity bills by approximately 20% by 2030. Only two actions can immediately lower bills: removing levies from bills and improving targeted support for households in fuel poverty and trade-exposed businesses.
Successive energy crises, driven by the increase in the price of fossil fuels, have dramatically increased bills for households and businesses in Great Britain. Another 16% rise in Ofgem’s energy price cap is anticipated in January 2027 and bills aren’t set to fall until the 2030s. But that doesn’t have to be the case. The government can build an affordable, low-carbon system by 2030 by delivering 8 “Essential Actions”.
Access the full report here