MPs Urge Miliband to Decouple Electricity Prices

0:00On March 26, Green members of parliament are pushing energy secretary Ed Miliband to commit to separating electricity prices from gas prices. In a letter to him, they argue this change could save households hundreds of pounds a year by breaking the current link that keeps bills high despite more cheaper nuobles. The UK's wholesale electricity market uses marginal cost pricing, where the most expensive generator needed to meet demand sets the price for. Everyone That is usually gas, even when renewables provide most of the power. Miliband recently told Labor MPs privately that he is exploring this decoupling idea, calling it complicated but possible. Green MPs, led by Carla Dignier, have ramped up pressure with an early-day motion in parliament seeking labor support. They worry that just looking into the policy, leaves people vulnerable to global gas price spikes, especially with bills set to rise soon. Just like eco-business leader Dale Vince, say decoupling is essential for Labor's clean

1:02energy goals to actually lower costs, as gas would still. Influence prices otherwise. Think tanks have proposed fixes, such as making a state operator the single buyer for renewables at fixed rates. Meanwhile, Miliband faces tension between his green push for 95% renewable electricity by 2030 and calls for more North Sea. Oil and gas. As talks continue without an official government stance, households wait for real relief from soaring energy costs.