When asked about the effect the newly unveiled energy strategy would have on prices, business secretary Kwasi Kwarteng replied“the impact could be very soon”. By very soon, he specified, he meant three or four years.
Now, we know a transition to sustainable energy produced here takes time. No government could simply do some magic and speed it up. But what Kwarteng meant is energy bills won’t drop for three years. It won’t feel like “very soon” for many families struggling to make ends meet over the cost of living crisis.
If Britain leads the way with nuclear, wind and solar, it will reap the economic and social benefits. But in the meantime, lower income households and vulnerable people are asking how to heat their homes. Some have suggested a nationwide effort to insulate homes, for instance, could have had a real impact on bills. The energy bill could be cutting-edge, but it doesn’t say much about the short-term – and people have noticed.