{"id":4413,"date":"2025-10-16T12:04:41","date_gmt":"2025-10-16T12:04:41","guid":{"rendered":"https:\/\/ventil.rs\/blog\/business\/electricity-prices-set-to-jump-20-within-five-years-energy-firm-warns\/"},"modified":"2025-10-16T12:04:41","modified_gmt":"2025-10-16T12:04:41","slug":"electricity-prices-set-to-jump-20-within-five-years-energy-firm-warns","status":"publish","type":"post","link":"https:\/\/ventil.rs\/blog\/business\/electricity-prices-set-to-jump-20-within-five-years-energy-firm-warns\/","title":{"rendered":"Electricity prices set to jump 20% within five years, energy firm warns"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"main\">\n<div class=\"hydrate-root sc-10wlkbs-0\" data-component=\"Newsletter\" data-loading=\"lazy\" data-theme-name=\"base\">\n<aside class=\"sc-y4bm30-0 jwWhkK newsletter-component sc-1ge0fwe-0\" data-newsletter-key=\"receiveIndyBreakingNews\">\n<div class=\"sc-y4bm30-2 kcLSBk\"><\/div>\n<div class=\"sc-y4bm30-1 inRDZn\">\n<div class=\"sc-y4bm30-3\">\n<div class=\"sc-y4bm30-4 hfveGa\">\n<p><h3 class=\"sc-y4bm30-5 sc-y4bm30-6 fvoxRM dRzeRr\">For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails<\/h3>\n<h3 class=\"sc-y4bm30-5 sc-y4bm30-8 fvoxRM knvhy\">Sign up to our free breaking news emails<\/h3>\n<h3 class=\"sc-y4bm30-5 sc-y4bm30-7 fvoxRM kbCQAZ\">Sign up to our free breaking news emails<\/h3>\n<\/p>\n<p><svg class=\"sc-eaj12q-0 hKcUSR sc-culv3z-0 eifaJK sc-1ix0cah-0 PYnPb sc-y4bm30-10 fUEDPX\"><use href=\"#600f53465147d717\"\/><\/svg><\/div>\n<div class=\"sc-y4bm30-2 kcLSBk sc-y4bm30-9 iQYNfz\"><img decoding=\"async\" src=\"https:\/\/static.independent.co.uk\/static-assets\/images\/newsletters\/breakingNews1_1.png\" loading=\"lazy\" alt=\"Breaking News\" class=\"sc-1mc30lb-0 ggpMaE\"\/><\/div>\n<\/div>\n<\/div>\n<\/aside>\n<\/div>\n<p>Electricity prices are on track to jump by a fifth over the next four or five years, according to the UK\u2019s biggest energy supplier.<\/p>\n<p>Octopus Energy\u2019s Rachel Fletcher told <a href=\"https:\/\/www.independent.co.uk\/topic\/mps\">MPs<\/a> that the <a href=\"https:\/\/www.independent.co.uk\/topic\/government\">Government<\/a> should urgently consider changing how wholesale gas prices drive changes in UK energy costs in order to help British households.<\/p>\n<p><a href=\"https:\/\/www.independent.co.uk\/topic\/energy\">Energy<\/a> bosses also blamed \u201ccomplex regulations\u201d for the UK having higher wholesale energy prices than some other European countries, during an Energy and Net Zero Select Committee session.<\/p>\n<p>The warnings come two weeks after the energy price for a typical household in <a href=\"https:\/\/www.independent.co.uk\/topic\/england\">England<\/a>, <a href=\"https:\/\/www.independent.co.uk\/topic\/scotland\">Scotland<\/a> and Wales increased by 2%.<\/p>\n<p>The energy bill for the average household paying by direct debit for gas and electricity increased from \u00a31,720 to \u00a31,755 per year.<\/p>\n<p>On Wednesday, Ms Fletcher, director for regulation and economics at Octopus Energy, said the calculation of gas prices within the UK wholesale energy market needs to be looked at.<\/p>\n<p>She said: \u201cThere are proposals on the table we think the Government should be looking at to take gas out the wholesale market and put it into a strategic reserve.<\/p>\n<p>\u201cI think that needs very serious and urgent consideration.<\/p>\n<p>\u201cIf we continue on the path that we are on right now, in all likelihood electricity prices for a typical customer are going to be 20% higher in four or five years\u2019 time than they are now, and that\u2019s even if wholesale prices halve.\u201d<\/p>\n<p>Meanwhile, Simone Rossi, the chief executive of EDF UK, called on the UK to ease regulatory burdens in order to help bring energy prices lower.<\/p>\n<p>He said: \u201cThe point is that bills are very high and there are things we can do to reduce them.<\/p>\n<p>\u201cFrom point of delivery, the cost of serving customers in the UK is about \u00a3100 per annum, and in France it is 45 euros, so more or less half.<\/p>\n<p>\u201cThis is not to do with wholesale price or gas marginal costs but is driven by the fact we have a very complex regulation which has become more sophisticated over the years.\u201d<\/p>\n<p>A Department for Energy Security and Net Zero spokesperson said: \u201cWe categorically reject this speculation.<\/p>\n<p>\u201cWholesale gas costs for households remain 75% higher than they were before Russia invaded Ukraine in 2022, and the main reason energy bills remain high.<\/p>\n<p>\u201cThe only way to bring down energy bills for good is by making Britain a clean energy superpower, which will get the UK off the rollercoaster of fossil fuel prices and onto clean, homegrown power that we control.\u201d<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.independent.co.uk\/news\/business\/government-energy-mps-england-scotland-b2846077.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails Electricity prices are on track to jump by a fifth over the next four or five years, according to the&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/ventil.rs\/blog\/business\/electricity-prices-set-to-jump-20-within-five-years-energy-firm-warns\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;Electricity prices set to jump 20% within five years, energy firm warns&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":4414,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/static.independent.co.uk\/2024\/01\/01\/02\/28120818-a69dda80-dd48-4b4a-a2ad-44227754b422.jpg?width=1200&height=800&crop=1200:800","fifu_image_alt":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-4413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.8 (Yoast SEO v22.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Electricity prices set to jump 20% within five years, energy firm warns - Breaking News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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