Overview

• Octopus Energy’s Rachel Fletcher said typical electricity bills could be about 20% higher in four to five years even if wholesale prices halve, with non-commodity charges adding roughly £300 a year.
• Executives urged ministers to consider moving gas-fired capacity into a strategic reserve to reduce gas’s influence on electricity prices.
• EDF UK chief Simone Rossi cited complex regulation for higher UK delivery and service costs, estimating about £100 per customer in the UK versus €45 in France.
• Centrica boss Chris O’Shea proposed a means-tested approach in which those unable to pay would receive no bill and higher earners would pay more.
• MPs were told household energy debt could reach about £5 billion by Christmas, intensifying calls for targeted help as Ofgem’s current price cap stands at £1,755 a year.