New figures published this week show the UK did not import any Russian gas in the 12 months to the end of March 2023, while UK gas exports to Europe tripled over the same period. The UK has gone a whole year without importing any Russian gas - a boost for the country’s energy security and a blow to Putin’s war machine.
It comes as Ofgem announced a reduction in the energy price cap, which will see household bills fall by around £430. The figures also show renewables generated a record 46.2% of UK electricity from major power producers over the past 3 months. This is up from just 3.5% for the same period in 2010.
The decisive action taken by the UK to ban Russian gas, support European allies and increase the amount of energy generated from renewable sources is helping to kick Putin out of the global energy market and drive down bills.
Energy Security Secretary Grant Shapps said: We have led the world in standing up to Putin’s attempts to use energy as a weapon of war and, by slamming the door shut on Russian gas, we are helping to cripple the Kremlin war machine and safeguard the UK.
It’s positive households across the country will see their energy bills fall by around £430 on average from July, marking a major milestone in our determined efforts to halve inflation.
We spent billions to protect families when prices rose over the winter, covering nearly half a typical household’s energy bill, with wholesale energy prices down by over two thirds since their peak as we’ve neutralized Putin’s blackmail.
I’m relentlessly focused on reducing our reliance on foreign fossil fuels and powering-up Britain from Britain to deliver cheaper, cleaner and more secure energy.
Foreign Secretary James Cleverly said: Like his efforts on the battlefield, Putin’s attempts to weaponize energy supplies are failing.
Thanks to the steps we and our allies have taken, including to fast-forward the clean energy transition and on energy efficiency, Russian energy revenue continues to be dented and global prices have also fallen.
Our support for Ukraine will not waver. We will continue to undermine Putin’s ability to wage war, including by cracking down on the circumvention of our sanctions.
”Putin’s illegal invasion of Ukraine had a devastating effect on global energy markets, forcing up wholesale prices and with it the energy bills of households and businesses in the UK and around the world.
In response, the government took swift action to shield consumers and companies from the worst effects, paying around half a typical household’s bill over the winter and half the wholesale energy costs paid by some businesses.
The Powering Up Britain plan published in March set out the UK’s ambitious plans to scale up affordable, clean, homegrown power and build thriving green industries - boosting the country’s energy security and independence and reducing household bills for the long term.