UK Considers Decoupling Power From Gas Prices In Biggest Reform In Decades

OilPrice.com | Jun 13, 2022 at 12:30 PM
  • The UK government is considering ending the pricing system of British power prices, which are now linked with natural gas prices, in a bid to reduce energy bills for millions of households, The Times reported on Monday, quoting government sources.
  • In April, the Energy Price Cap was raised by more than 50 percent, doubling the number of fuel-stressed households in the UK overnight.
  • Soaring energy prices are hitting UK households and energy providers in a market that has realized that the cost-of-living crisis is not going away soon and will get even worse come next winter.