Soaring energy bills likely to stay high for YEARS as cost of living crisis deepens


RECORD-high energy bills are unlikely to fall for years despite millions being invested in a new energy strategy, the business secretary acknowledged.

Kwasi Kwarteng said the draft would be “more than three, four or five years” and would do little to help the British who are now struggling to retain heating.

It is unlikely that record high energy bills will fall in years

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It is unlikely that record high energy bills will fall in yearsCredit: Getty

Boris Johnson insisted that his important strategy – which will enable a “nuclear return home” – will never again allow tyrants like Putin to “blackmail” Britain with their gas and oil.

It came as a new forecast of the report that the energy price cap could rise by another 75 percent in October to an incredible 3,500 pounds if the war in Ukraine continues to reduce world supplies.

The prime minister’s plans for more domestic wind, nuclear, solar and hydrogen energy will probably take at least two years to break into the grid, where it will then affect prices.

Mr Johnson said energy bills had risen around the world and had “absolutely risen” since the invasion of Ukraine.

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He stressed: “We just can’t go on like this.”

But plans to build a series of new nuclear reactors and power plants will meanwhile add at least an extra £ 36 a year to household bills.

Liberal Democrat leader Ed Davey condemned: “People are facing a terrifying increase in energy bills and are now seeking emergency help from the government.”

And Labor MP Darren Jones added: “Energy security means you can turn on heating or electricity knowing you can afford to pay the bill.”

But a government source insisted: “It’s a small price to pay for energy independence.”

Speaking during a visit to the Hinkley Point C nuclear power plant, the prime minister said: “This (energy strategy) is about resolving past mistakes and ensuring that we are well placed for the future and never again subject to the whims of the global oil and gas price. to be subject to blackmail, so to speak, from people like Vladimir Putin, we have energy security here in the UK. “

He acknowledged that onshore wind farms were “controversial” because of their visual impact, saying the new sites would “have a very high cleaning limit” and would have to “reward” locals with cheaper energy.

Members of the 1922 Beis Committee (Business, Energy and Industry Strategy) called on ministers to promise that planning consent would require the support of a majority of residents in a local referendum.

Meanwhile, according to the latest PwC economic forecasts in the UK, households are ready for a major blow to the cost of living of up to £ 1,300 this year.

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And it could get worse because inflation exceeds 11 percent if the Russian invasion continues, it warns.

Energy bills are likely to rise again in the fall thanks to the “scenario of economic escalation” in Ukraine, they predict.

Kwasi Kwarteng said a draft of a new energy strategy would do little to help the British who are now struggling

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Kwasi Kwarteng said a draft of a new energy strategy would do little to help the British who are now strugglingCredit: PA





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