News about Robert Buckley

Experts have played down fears of fuel bill hikes as Britain prepares to import a record amount of energy from Europe. Low home-produced capacity and new undersea cables will see Britain buy surplus power from nuclear plants operated by French state-owned energy giant EDF. UK imports of electricity are also set to soar by 6.6 terawatt hours, as British power station closures have seen the country rely increasingly on power generated offshore. Hard-up households have been hit with steeply rising fuel bills in recent years, while energy giants reported £420billion profits since 2020.

The price energy companies pay for natural gas and electricity is described as 'wholesale pricing.' These prices have dropped by 46% year on year to date, but household energy bills have not kept pace. These bills have not decreased by three specific reasons.