The Energy and Climate Intelligence Unit (ECIU) reports that the UK’s gas bill has surpassed £100bn since the onset of the gas crisis, marking a significant financial burden exacerbated by the anniversary of the Russian invasion of Ukraine.
Analysis reveals an additional £75 billion spent on gas over the last two-and-a-half years due to soaring prices, underscoring concerns about energy affordability and reliance on volatile international markets.
Jess Ralston, Energy Analyst from the ECIU, said: “Despite 1,000 Terawatt hours of gas coming out of the North Sea since the crisis began, household bills still shot up. Prices are set internationally so more drilling won’t protect homes from high bills next time an international crisis comes along.
“What would have helped is more British renewable energy and insulating homes. A lack of investment over the past decade and recent government U-turns on policies such as warm home standards for landlords is leaving households vulnerable to volatile prices with 13% of homes now in fuel poverty.”
Energy Live News has contacted the Department for Energy Security and Net Zero for comment.
