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).
Energy UK has criticised proposals to impose a revenue cap on low carbon energy generators with it potentially hindering the investment that is needed to safeguard the UK’s energy security and reduce energy bills.
Shell has reported record profits in Q2 2022, as its adjusted earnings hit £9.6 billion ($11.5 billion), up from its previous high of £7.6 billion ($9.1 billion) in Q1.
A windfall tax on generators could risk future investment into energy infrastructure, impacting the transition to net zero and prolonging the UK’s reliance on volatile international gas, Energy UK has warned.