Finance

Labour’s energy bills crisis is getting worse. Political honesty is essential | Nils Pratley

Guardian Business · Aug 26, 2026, 2:15 AM EDT

Ofgem and ministers should be transparent about why energy bills for households are expected to stay stubbornly high Britons face highest price cap in three years as energy bills rise 4% from October Another Ofgem…

Ofgem and ministers should be transparent about why energy bills for households are expected to stay stubbornly high

Britons face highest price cap in three years as energy bills rise 4% from October

Another Ofgem energy price cap day, another increase in bills. Miatta Fahnbulleh, the new energy secretary, can blame the usual culprit on Wednesday – the fossil fuel price “rollercoaster”, given a shove this time by Donald Trump’s Middle East misadventure. Higher gas prices will indeed be the main quarter-on-quarter reason why bills stand at a three-year high on a unit basis.

But there is more to the tale on a longer view. Even when the gas rollercoaster dips downwards, the energy industry’s medium-term projections suggest bills will not fall meaningfully.

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