Chris Norbury, the chief executive of E.On UK, stated that even if the wholesale price of energy were zero, household energy bills would still remain at their current levels due to the significant increase in non-commodity costs, such as network charges and policy levies.
This highlights that the primary drivers of high energy bills are not wholesale gas prices but rather embedded costs related to infrastructure and government policies.
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The Energy Security and Net Zero Select Committee (“ESNZ”) is a select committee of the House of Commons in the UK Parliament. It was established in April 2023 as the successor to the previous Energy and Climate Change Select Committee. It scrutinises the policy, spending, and administration of the Department for Energy Security and Net Zero and its public bodies, including Ofgem and the Committee on Climate Change.
On Wednesday, ESNZ held an inquiry to hear oral evidence regarding the cost of energy. During the inquiry, ESNZ questioned the chief executives of the “Big Six” energy companies: OVO Energy, Octopus Energy, E.ON, Centrica, EDF UK and ScottishPower.
During the inquiry, E.ON’s Chris Norbury said: “If I look at the non-commodity costs – policy costs, network costs – then certainly some of the modelling that we have, suggests that you could get to a position by 2030 where if the wholesale price was zero, bills would still be the same as they are today because of the increase in those non-commodity costs.”
If we move those non-commodity costs off the electricity bill, it would help bring bills down, he said.
Some of the ESNZ Committee members laughed at Norbury’s suggestion. This is what we’re up against: policymakers who think it’s funny to suggest that they are responsible for the high energy bills that consumers, members of the public and businesses, are having to pay.
You can watch the full ESNZ session on Parliament Live TV HERE. The clip above begins at timestamp 15:12:44.
Related: Energy bills likely to rise by 20% in next four years, says Britain’s biggest supplier
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Categories: Breaking News, UK News
We need less politicians…they are the real useless eaters and wasteful consumers. 100% less would do….
Hi Rhoda,
It is fairly obvious that all the energy production in the UK need to be re Nationalised.
We were told that Privatisation would make for cheaper bills.
All it has done is give all the energy directors a good Pay cheque.
Most of their pay has gone up, and they have had bonus payments.
The public just have to pay what they decide.
How would that reduce energy costs? Surely politicians would continue their Net Zero madness in a state-owned energy market?
Hi Simon,
You could be right.
However, the majority of UK MP’s are dual passport holders.
They will do whatever they are instructed to do.
They are not really bothered about the people in the UK.
At least if we can re Nationalise, we have only our MP’s to blame.
Rubbish ! My husband and I spend half of the year outside the U.K. and when we come back the energy bills are considerably less than if we had stayed in the U.K. this applies for electricity as well as oil.
The oil & petrol prices have gone way too high and that depends from WHERE the oil & petrol is bought from. The U.K. buys through intermediaries making these purchases much more expensive than if they had bought it directly from the source bypassing the intermediaries who also get a cut as they re-sale to us at a profit adding more to the costs by the time it gets to the pumps. We need more intelligent people on those boards of decisions who can be more pragmatic and buy the oil and gas where it’s better for us the consumer, putting aside politics.