Energy Bills Stay High Despite Gas Price Drop

Energy minister warns of no quick bill relief, despite decreased wholesale gas costs. Bills remain 35% higher than pre-war levels due to clean power transition. Ofgems latest price cap expected to lower by 1%, still significantly higher than before the conflict. UK faces high domestic electricity prices despite half of electricity from renewable sources. Infrastructure development needed to remove fossil fuel volatility from bills. Renewable subsidies and grid management costs surge, expected to grow further with new nuclear power generation costs. Gas remains crucial to UKs power network, with gas-fired power stations ready to generate on demand. The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.