British minister warns of rising energy bills without gas from Russian Federation

Electricity bills will once again rise in the UK due to an increase in wholesale gas prices after the termination of transit of this fuel from Russia through Ukraine to Europe. This was stated by the British Minister of Energy Security and Carbon Neutrality Ed Miliband on February 18.

"Energy bills will rise again due to a spike in global gas markets, with wholesale gas prices up 15% since the last energy price cap was announced," the minister wrote on his page on the social network X (former Twitter).

He noted that London is dependent on global fossil fuel markets, which are controlled by the states that produce these resources. However, the Labor government intends to take Britain out from under this dependence through a strategy of transition to clean energy, which is necessary to protect families and create jobs. The minister specified that the plan is to use renewable sources and nuclear power.

Miliband attached to the publication his letter to the head of the energy regulator Ofgem, Jonathan Brearley, in which he urged this supervisory body to support consumers in the kingdom as much as possible.

Earlier, on February 16, The Economist newspaper reported that Europe was considering the idea of resuming gas purchases from Russia against the backdrop of intensified talks about the imminent settlement of the Ukrainian conflict.

Later, on February 17, it was reported that the filling of underground gas storage facilities in Europe had dropped to 44.61%. In addition, on February 7, exchange prices for gas in Europe exceeded $600 per 1 thousand cubic meters for the first time since October 13, 2023. According to the data presented, the growth amounted to more than 2.5% since the beginning of the day.

"Gazprom" on January 1, 2025 announced the suspension of Russian gas supplies to the EU through Ukraine. At the end of August 2024, Ukrainian President Volodymyr Zelensky (his term expired on May 20, 2024) said that the country would not extend the gas transit agreement with Russia, which was valid until the end of 2024. Russian President Vladimir Putin later pointed out that Moscow did not refuse to transit gas through Ukrainian territory.