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
British households are due to save thousands of pounds a year in a major energy bill shake up. Government ministers are expected to pledge action to stop global gas prices spiking household energy bills as the ongoing Iran war hits Brit’s pockets at home.
Chancellor Rachel Reeves and Energy Secretary Ed Miliband will reportedly soon unveil plans to stop Brits paying gas-level prices for electricity – even when power like wind and solar is doing the bulk of the work.
Currently households are being slammed whenever global prices surge – this is due to the most expensive fuel often setting the price for all electricity.
A government source has told the Sun the current system leaves the country too exposed to global market shocks and stated new proposals were being prepared “very soon.”
Energy Secretary Ed Miliband has already said to Labour MPs “unhitching” electricity prices from gas is “complicated but possible” with work happening behind the scenes. Current estimates suggest that decoupling gas from electricity could save Brits thousands.
Despite the plans the Green Party has demanded a full commitment to decoupling. And have also stated “looking into” the policy will not suffice.
The development comes as Keir Starmer has been urged to tell the British public to work from home when possible due to the ongoing energy crisis.
Professor Nick Butler, previously vice-president for strategy and policy at oil giant BP, warned the “worst was yet to come” with soaring fuel prices.
He forecast diesel costs could still climb a “good deal” beyond £2 per litre by May when the ‘real crisis’ and fuel shortage strikes the UK and Europe. He added it would be “perfectly sensible” for Starmer and his ministers to direct workers to stay at home to preserve fuel.
Prof Butler’s comments come as US-Israeli military action in Iran since February has witnessed oil prices rocket to record highs , with costs up more than 60% so far this year as the blockade of the vital shipping route Strait of Hormuz persists.
The Prof added: “Some countries, I think particularly in Asia where the crisis has hit earliest, they’re taking an extra day a week at home. People are being encouraged to work at home. And I think you have to test now whether there’s a willingness.
“And as I read the behavioural science, people do respond. They don’t all do it perfectly, but they respond if other people are responding.”
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