Energy: Prices

The Government and Prime Minister is fully committed to delivering clean power by 2030. Last December, we published the Clean Power 2030 Action Plan, which provides the foundation for the UK to build an energy system that can bring down bills for households and businesses for good, and protect them against future price shocks. For example, NESO modelling showed that if gas use for power generation remained at the levels of 2023 and gas prices were raised to the peak levels in 2022 (300 p/therm on average), this would add around £12 billion to annual electricity system costs in Great Britain. In the clean power pathways, a similar price shock would only add around £5 billion.