Global Witness senior investigator Jon Noronha-Gant said:
“The same dirty fossil fuel industry that has gorged itself on record profits since Russia’s war on Ukraine is now delivering another cruel blow to struggling families in the UK – a further energy price hike.
“Ofgem is clear: the largest single driver of the rise are subsidies paid to gas companies. This proves that if the UK continues to rely on fossil fuels, prices will be volatile, and people's pockets will keep taking the hit.
“We need a rapid scale up of clean renewable energy so we can control our own power supply, and its cost.”
Notes to editors
- Starting in April, average UK households could see extra charges of over £100/year, according to Cornwall Insights.
- Most of this – an estimated £53 – will come from subsidies to gas companies, according to Politico citing Cornwall Insights.
- The cost of building nuclear power and electricity grids together will make up the remaining £47, according to Politico.