Factcheck: High gas prices, not net-zero policies, are driving UK electricity costs
By
Carbon Brief Staff
2d ago· 46 min readenInsight
100/100
Golden Brown
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Slow-proofed and worth the wait. Worth its weight in flour.
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Summary
The article fact-checks claims about UK electricity prices, arguing that high costs are primarily driven by expensive gas prices (still three times pre-crisis levels) rather than net-zero policies or "green levies." The UK's electricity pricing model is uniquely exposed because gas sets wholesale power prices 98% of the time. The piece pushes back against political narratives blaming climate policies for high energy bills, instead pointing to Russia's invasion of Ukraine and the resulting gas crisis as the root cause.
Key quotes
· 3 pulledThe UK has been particularly exposed, as gas sets its wholesale power prices 98% of the time – and gas remains three times more expensive than before the crisis.
Prices spiked after Russia cut off gas exports to Europe, precipitating a global energy crisis alongside its invasion of Ukraine in 2022.
Nevertheless, some have sought instead to misleadingly blame the UK's high electricity prices on 'green levies'
The UK’s high electricity prices have become intensely political, with competing claims over the cause of rocketing bills and how best to get them down.
