All it’s good to know as family payments to drop by lots of in vitality invoice shake-up

Need to know

A new government move could see Brits save hundreds on their energy bills as minsters are expected to pledge action to stop global gas prices spiking household energy bills

Need to know: Energy Bill Revolution as Brits Set to Save Thousands

• British households could save thousands of pounds a year as ministers prepare a major energy bill shake-up to protect families from soaring global gas prices.
• Chancellor Rachel Reeves and Energy Secretary Ed Miliband are set to unveil plans to stop Brits paying gas-level prices for electricity – even when renewable power like wind and solar is doing most of the work.
• Currently households get slammed whenever global prices surge because the most expensive fuel sets the price for all electricity. A government source told The Sun new proposals were being prepared “very soon” to tackle the country’s exposure to global market shocks.
• Energy Secretary Ed Miliband has already told Labour MPs that “unhitching” electricity prices from gas is “complicated but possible” with work happening behind the scenes.
• The Green Party has demanded a full commitment to decoupling and warned that just “looking into” the policy won’t be enough.
• Meanwhile, Keir Starmer has been urged to tell Brits to work from home to tackle the ongoing energy crisis. Professor Nick Butler, former BP strategy chief, warned the “worst was yet to come” with soaring fuel prices.
• He forecast diesel could climb beyond £2 per litre by May when the “real crisis” hits. Prof Butler said it would be “perfectly sensible” for Starmer to direct workers to stay home to preserve fuel.
• Oil prices have rocketed more than 60% this year due to US-Israeli military action in Iran and the blockade of the Strait of Hormuz shipping route.
• READ THE FULL STORY: Household bills to drop by hundreds in major government energy bill shake-up