Simon Francis, coordinator at End Fuel Poverty Coalition, said: “No household struggling with their energy bills will see a penny come off by drilling more from the North Sea. Gas is sold at the global market prices, so whatever is pumped out is sold to the highest bidder, not handed to British billpayers at a discount. The drill more, bill more approach has been tried for decades, and bills are still stuck at crisis levels.
“The only people who benefit from the current system are the billionaires and the energy firms that have posted billions of pounds in profits in just the last few months.
“Relying so heavily on gas is a dead end as the North Sea gas runs out due to the basin’s ageing nature, which even industry figures admit. This geological reality means import dependence is rising, and every year we delay the transition to homegrown renewables is another year households face gas price shocks.
“If a Government wants to help families who are struggling, the honest answer is to break the link between electricity prices and volatile gas markets, get on with insulating homes and rolling out cheaper homegrown power, and give the households in deepest difficulty the support they need.”
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