Simon Francis, coordinator of the End Fuel Poverty Coalition, said: “With wholesale gas prices hitting an 11-month high this week, this new analysis shows how households are still trapped in a broken energy system where two thirds of the electricity bill rises since 2021 were driven by wholesale gas costs.
“When gas sets the electricity price, families in fuel poverty are left exposed to international volatility and unpredictable foreign imports from places such as Trump’s America.
“But recent figures offer a glimpse of the way out, with analysis showing that wind power cut day-ahead wholesale electricity prices by around a third last year, providing some protection for bill payers.
“The answer now is to break the link to gas by reforming electricity pricing and accelerating homegrown renewables on stable long-term contracts.
“Alongside this the Warm Homes Plan must be implemented at pace, but with a guarantee that homes supported will see lower bills.
“Finally, we can’t forget that until energy prices fall and homes are upgraded, there will need to be targeted financial support for households who cannot wait for upgrades.
“And as the gas in the North Sea runs out, the government must protect vulnerable customers from being stranded on a shrinking gas network with rising fixed costs by setting out a clear, fair plan for the future of energy bills.”
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