Wholesale gas price volatility caused by the Russian invasion of Ukraine, has cost the UK around £1,000 for each adult, the Energy and Climate Intelligence Unit (ECIU) said.
The RAC and EV campaign group FairCharge have called on the UK government to decouple electricity wholesale prices from gas in a bid to reduce the costs associated with EV charging.
Cornwall Insight has confirmed that the latest forecasts for the Default Tariff Cap have seen energy bill predictions fall to £3,208 from April 2023 as a result of positive gas storage and demand reductions in Europe.
Consumers based in Northern Ireland were able to avoid paying a collective total of £500 million thanks to the nation’s wind farms having provided 42% of electricity for the year.
Cornwall Insight has argued in its latest research paper that smart meters are set to play a vitally important role in securing energy security in the UK.
So Energy has revealed it is no longer exploring additional funding options, citing a fall in future wholesale prices, continued governmental support and ESB backing as a means of becoming more financially sound moving into 2023.
Both the National Energy Action (NEA) and the Social Market Foundation (SMF) have said that over seven million households face the risk of fuel poverty come April 2024 prompting calls for politicians to provide “workable long-duration policies”.
From the beginning of the wholesale gas crisis to the end of the newly extended Energy Price Guarantee initiative, gas will have added £4,400 to the average household’s energy bill, according to the Energy and Climate Intelligence Unit (ECIU).
