Energy minister says 'there's no shortcut' to bringing down bills as Ofgem set to announce new price cap

Households and business must wait for energy bills to fall - as minister says there is 'no shortcut' to bring down prices

While wholesale gas prices have fallen from their peak following the Russian invasion of Ukraine in 2022, energy bills remain around 35% higher than before the war, inflated by the rising cost of reducing reliance on fossil fuels.

Households set to learn of slight energy bill drop from January

Experts at Cornwall Insight have said they expect Ofgem’s price cap to drop by 1% because of lower wholesale energy prices.

Energy bills set to fall in January - but households warned of new price hike

The Ofgem energy price cap is expected to fall in January, but households have been warned that bills are still well above pre-crisis levels and could rise again in the spring

Consumers must wait for energy bills to fall as minister says ‘there’s no shortcut’

TL;DR Energy Minister Michael Shanks indicates that households and businesses will need to be patient for significant energy bill reductions, stating there’s “no shortcut” to lowering prices. Despite renewable energy providing over 50% of the UK’s electricity, the country holds the second-highest domestic and highest industrial electricity prices among developed nations, with bills remaining about [...]

Consumers must wait for energy bills to fall - as minister says 'there

Households and businesses will have to wait for energy bills to fall significantly because ‘there’s no shortcut” to bringing down prices, the energy minister has told Sky News. Speaking as Chancellor Rachel Reeves considers ways of easing the pressure on households in next week’s budget, energy minister Michael Shanks conceded that Labour’s election pledge to cut bills by £300 by converting the UK to clean power has not been delivered. The UK ha…

Households and business must wait for energy bills to fall - as minister says there is 'no shortcut' to bring down prices | Politics News | Tech, Entertainment, Sport, Fashion, Travel News

Households and businesses will have to wait for energy bills to fall significantly because there is “no shortcut” to bringing down prices, the energy minister has told Sky News. Speaking as Chancellor Rachel Reeves considers ways of easing the pressure on households in next week’s budget, energy minister Michael Shanks conceded that Labour’s election pledge to cut bills by £300 by converting the UK to clean power has not been delivered. The UK h…