Story perspectives

UK Leaders Seek to Decouple Electricity Prices from Gas Costs

4/17/2026

Summary

Story summary

Chancellor Rachel Reeves and Energy Secretary Ed Miliband are exploring ways to decouple electricity prices from gas costs in the UK.
Under the marginal cost pricing model, gas prices determine electricity costs.
Reeves says decoupling is essential as electricity grows in the energy mix.
The government promotes North Sea oil and gas tiebacks to maximize resources.
Greenpeace supports decoupling to reduce gas influence on electricity costs and promotes renewables.

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Story summary

Chancellor Rachel Reeves and Energy Secretary Ed Miliband are exploring ways to decouple electricity prices from gas costs in the UK.
Under the marginal cost pricing model, gas prices determine electricity costs.
Reeves says decoupling is essential as electricity grows in the energy mix.
The government promotes North Sea oil and gas tiebacks to maximize resources.
Greenpeace supports decoupling to reduce gas influence on electricity costs and promotes renewables.