A natural resource is seen as a private commodity, to be sold and purchased on international markets. Just as coffee, rice, and sugar fluctuate in price, so natural sources turned to energy do the same. There’s no guarantee energy prices will decrease.
Ed Miliband MP (Doncaster North/Labour), the Secretary of State for Energy Security and Net Zero, has touted a letter he wrote to Ofgem on global gas price rises. He writes it to seek protection for UK consumers as financial difficulties press on people.
“Britain remains highly exposed to these global gas markets, including to generate power and heat our homes, which means this increase in wholesale prices will feed through into the price cap that you announce for April 1. Once again, the British people and British businesses will face the consequences of fossil fuel markets we do not control.”
In spite of a rapid increase in generating green energy in the UK, there’s little to suggest prices will actually decrease for UK bill payers. It’s in the genome of UK business executives to see it as an energy market worth playing for than one worth paying for.
