Study: Gas price crisis has cost UK £60bn since Russian invasion

Stuart Stone
clock • 4 min read
Credit: Max Kukurudziak
Image:

Credit: Max Kukurudziak

New analysis from ECIU argues Britain's gas reliance means soaring wholesale gas prices have cost around £1,000 for every adult in the UK

Astronomical wholesale gas prices in the year following Russia's invasion of Ukraine have cost the UK an additional £50bn to £60bn - or approximately £1,000 per adult - according to new estimates from...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

Stuart Stone
Author spotlight

Stuart Stone

View profile
More from Stuart Stone

Iceland Foods' solar schemes to generate more than 3MW of clean power

Study: AI and digital twins can help onshore wind sector tackle delays and red tape

More on Energy

'We need to go further and faster': NESO makes the case for accelerated clean power push
Energy

'We need to go further and faster': NESO makes the case for accelerated clean power push

Annual Future Energy Scenarios report argues that rapid roll out of clean power system through to 2030 is key to unlocking next phase of the net zero transition

James Murray
James Murray
clock 14 July 2025 • 9 min read
Abundant power, affordable bills: Britain's energy opportunity
Energy

Abundant power, affordable bills: Britain's energy opportunity

The UK needs an energy market that responds to the availability of the wind and sun, rather than being shaped by the fossil fuel market, argues Andy Hackett from the Centre for Net Zero

Andy Hackett, Centre for Net Zero
clock 14 July 2025 • 4 min read
IRENA: Global renewable power capacity surged by 15 per cent in 2024
Energy

IRENA: Global renewable power capacity surged by 15 per cent in 2024

The global renewables boom is transforming energy markets, driving economies, and creating investment opportunities - but many regions are at risk of being left behind

Michael Holder
Michael Holder
clock 11 July 2025 • 3 min read