Stopping gas dictating UK energy price could cut bills by £200, thinktank says

A report by the Common Wealth thinktank suggests UK households could save up to £203 annually by decoupling gas prices from electricity bills. Currently, gas, despite generating only a quarter of the UK's electricity, sets the energy price 85% of the time, leading to potential bill increases as gas costs rise. The thinktank proposes a "single buyer model" where low-carbon energy generators receive fixed prices, and gas plants become a strategic reserve. This would prevent renewable energy companies from profiting from high gas prices. Experts, consumer groups, and political figures are increasingly urging the government to reform the energy market. Common Wealth believes this change could be implemented within a year to address the ongoing energy crisis.

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