Triple whammy of bad decisions at heart of high energy prices
11 March 2025
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Lifestyle Economics
26 February 2025
Energy and Environment
Lifestyle Economics
17 March 2025
Responding to the increase in the energy price cap, Andy Mayer, Energy Analyst at the Institute of Economic Affairs said:
“It is well understood that when international wholesale energy prices rise so do our bills.
“Unusually, when they fall, UK prices fall more slowly, and our industrial energy prices are some of the highest in the world.
“This is caused by a triple whammy of bad decisions: failure to invest in domestic gas; linking prices of older renewables to gas prices; and an overeliance on new renewables whose supply chains rely on fossil fuels, driving up prices further.”
“It is well understood that when international wholesale energy prices rise so do our bills.
“Unusually, when they fall, UK prices fall more slowly, and our industrial energy prices are some of the highest in the world.
“This is caused by a triple whammy of bad decisions: failure to invest in domestic gas; linking prices of older renewables to gas prices; and an overeliance on new renewables whose supply chains rely on fossil fuels, driving up prices further.”
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