Why is UK electricity so expensive?
About this episode
The episode discusses the high cost of electricity in the UK, exploring the impact of the Middle East conflict and the role of government policy.
Conflict in the Middle East has pushed up energy prices in the UK. Even if the war ends soon, prices may not return to pre-war levels, and government could still face pressure to support households. But the problem runs deeper than the current crisis. Even before the latest shock, the UK had some of the highest electricity prices in the developed world. Why is electricity so expensive here? How much of the problem is down to gas? Are renewables making bills cheaper or more expensive? And if government wants to cut electricity prices, what can it actually do? Helen Miller is joined by Dieter Helm, Professor of Economic Policy at the University of Oxford, and Peter Levell, Deputy Research Director at IFS, to discuss Britain’s energy mix, the costs of renewables, net zero targets, and how policy should respond to energy price shocks. Become a member: https://ifs.org.uk/individual-membership Find out more: https://ifs.org.uk/podcasts-explainers-and-calculators/podcasts Hosted on Acast. See acast.com/privacy for more information.
People in this episode
Host: Helen Miller
Guests: Dieter Helm, Peter Levell
Topics covered
- energy prices
- UK electricity
- renewable energy
- government policy
- economic impact
- Middle East conflict
Keywords
- electricity prices
- UK energy
- gas prices
- renewables
- net zero
- energy policy
- household support
Mentioned in this episode
Organizations: Institute for Fiscal Studies, University of Oxford
Places: UK, Middle East
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