UK gas prices ease from crisis peaks but remain far above pre-2021 levels

Chart showing UK gas prices and the Energy Price Guarantee, illustrating how support schemes capped bills during the 2022–23 crisis and why UK gas prices remain above pre-2021 levels.

This report outlines how UK gas prices, although far below the peaks reached during the energy crisis, remain structurally elevated compared with pre-2021 levels. Wholesale markets have stabilised, but the UK’s continued dependence on imported LNG exposes consumers to global price swings and geopolitical risk. The analysis notes that even as supply conditions improve, underlying network costs, legacy policy charges, […]

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