UK Energy Bills Rise 2% as Price Cap Increases to £1,755

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Above: Offshore wind farms on Mar. 11, 2025 in the North Sea, U.K. Image copyright: Chris Ratcliffe/Bloomberg via Getty Images

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The Spin

Pro-government narrative

The government is more than aware of the difficulty facing British families ahead of Ofgem’s new price cap, with gas prices still 75% more expensive than before the Russian invasion of Ukraine. The only way to deliver cheaper energy in the long run is through a secure, home-grown energy supply, which the government’s green energy strategy will achieve.

Ed Miliband on X

Government-critical narrative

During the election, Labour promised to cut U.K. energy bills by £300. The price cap increase shows that the government is now further away from achieving that goal than ever before, with bills rising despite wholesale prices falling. This failure is not the fault of global markets, but rather a direct consequence of the government’s political ineptitude.

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