- European natural gas prices have reached their highest level since the 2022 invasion of Ukraine, driven by Middle East conflicts and depleted storage reserves.
- British household energy bills are forecast to reach a record average high of £2,192 per year in January, up from the current £1,723.
- The household unit price for gas in the UK is expected to hit a record peak of 11.13p/kWh, surpassing the previous record set in 2023.
- The UK government recently approved drilling in the North Sea Jackdaw gas field, a decision defended by Prime Minister Andy Burnham as vital for protecting jobs and energy supplies.
- Energy campaigners and experts warn that the Jackdaw project will not reduce domestic bills, as the extracted gas will still be sold at global market prices.
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