Rachel Reeves might have caused issues but blaming her for energy prices when they’ve been going up for years now is really a bit Daily Mail if you ask me.
Our electricity wholesale prices are charged as if 100% of generation is from natural gas, the most expensive generation option regardless of where the power comes from. This was not set by this government and it’s a government choice to do this other countries do not. This has been explained in interviews by Greg from Octopus several times and they’re frustrated by this nonsense too. It’s clear this billing was rigged to give unrealistic returns for cheaper generation at our expense (naturally)
The markets easily fixed by making wholesale prices reflect generation source as wind, solar and nuclear are vastly cheaper.
Tldr high prices are caused by us paying gas generation prices for wind generation so someone is making a mint.
