Energy bills: George Eustice grilled on 'off-peak discounts'
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Business Secretary Kwasi Kwarteng is set to introduce the landmark Energy Security Bill in Parliament today, which will aim to boost the country’s energy independence and security in the face of Russia’s invasion of Ukraine. The Bill, which was announced as part of the Queen’s Speech will include 26 new measures to boost the UK’s transition to a “cleaner, affordable, home grown energy system”.
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This Bill if passed, is said to be the most significant piece of energy legislation in a decade, as Russia’s invasion of Ukraine has forced European countries into action to phase out oil and gas exports.
Russian President Vladimir Putin has weaponised his dominance in global fossil fuel markets, by squeezing or even halting supplies of gas to European countries to exert pressure amidst the war in Ukraine.
The invasion even aggravated the fossil fuel energy crisis, as Britons are now set to face household bills as high as £3,000 by this October.
This Energy Security Bill follows immediate support from the Government to help people with rising energy costs and puts into law measures to boost long-term energy independence, security, and prosperity included in the British Energy Security Strategy announced earlier this year.
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