Kathryn Porter discusses the UK's 'precarious' energy system
GB NEWS
GB News members have been asked whether they trust the Government to bring their energy bills down
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Ofgem is due to announce an update to the energy price cap for the period starting April 1.
According to analysts, millions of households face a greater than expected increase to their energy bills of about five per cent from April after a slump in Europe’s gas storage levels caused market prices to climb.
The average gas and electricity bill for a typical household in Britain is expected to rise by £85 from April to £1,823 a year under the energy regulator’s price cap.
Most of Britain's skyrocketing electricity bills are being blamed on subsidies for renewables and Net Zero policies, new analysis shows.
Since 2015, the electricity price cap - a limit on how much energy suppliers can charge for power - has jumped from £664 to £994 per year in today’s prices - an increase of £330, or 50 per cent over a decade.
Despite the Government pointing the finger at rising gas prices on the global market, the analysis for GB News by Professor Gordon Hughes - an economist at Edinburgh University - shows the biggest culprit is the explosion in subsidies for renewable energy and Net Zero policies which account for 40 per cent of the increase in our electricity bills since 2015.
These costs now represent £223 of our annual charges.
With that in mind, do you trust the Government to bring your energy bills down? Have your say by voting the poll below.
