Comment: UK wholesale gas prices rise to highest level since mid-February

Commenting on the news that UK wholesale gas prices have risen and are now at their highest level since mid-February [1], Jess Ralston, Energy Analyst at the Energy and Climate Intelligence Unit (ECIU) said: “This is a reminder that without the shift to renewables and electric heat pumps, the UK is increasingly at the mercy of this kind of gas price volatility.

“The North Sea won't help us as the price of gas is largely set internationally and more drilling won't bring down bills. Had the government's home energy efficiency schemes not been in decline, more families would be insulated from high bills this winter, but instead many will be colder and poorer."

ENDS

Notes to editors:

1. UK wholesale gas prices rise to highest level since February: https://news.sky.com/story/uk-wholesale-gas-prices-rise-to-highest-level-since-february-12983758
2. Policy changes announced recently by the Prime Minister could cost British households almost £8bn in higher bills over the next decade, and more if gas prices spike again, due to cancelling new energy efficiency regulations for the private rental sector: https://eciu.net/media/press-releases/2023/pms-net-zero-changes-could-cost-households-up-to-8bn
   

For more information or for interview requests:

George Smeeton, Head of Communications, ECIU, Tel: 07894 571 153, email: george.smeeton@eciu.net