Average annual energy bills are set to go up by more than £200 a year from July, after energy regulator Ofgem announced a 13% rise in the energy price cap.
It’s largely down to the impact of the Iran War, but with the UK generating more electricity from renewable sources than ever before, why aren’t we feeling the benefits in our bills?
The answer is more complicated than you might think, and it all comes down to how energy prices are set in the UK…
We explain what’s going on, why renewables haven’t made your bills cheaper, and if drilling in the North Sea might be the answer.
Chapters:
0:00 Intro
0:46 Why is the price cap going up?
1:40 Why aren’t renewables lowering prices?
4:00 What can the UK do about it?
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