Households and businesses across the country are set to be better protected from energy crises, as the Government moves to break the link between gas and electricity prices. New plans announced on Tuesday include long‑term fixed‑price contracts for renewables, and immediate action to tax excess profits through the Electricity Generator Levy, raising the rate from 45% to 55% and extending its duration.
Prime Minister Keir Starmer said: “We need to get off the fossil fuel rollercoaster – this will make energy bills more stable and take the pressure off family budgets. When global gas prices spike, people here shouldn’t be picking up the tab. Our focus is simple: easing pressure on household budgets now, while building a homegrown energy system that protects families from global instability in the years ahead.”
THIS IS A BREAKING NEWS STORY. REFRESH FOR UPDATES.
