Labour’s energy bills crisis is getting worse. Political honesty is essential | Nils Pratley

Ofgem and ministers should be transparent about why energy bills for households are expected to stay stubbornly high Another Ofgem energy price cap day, another increase in bills .

Miatta Fahnbulleh, the new energy secretary, can blame the usual culprit on Wednesday – the fossil fuel price “rollercoaster”, given a shove this time by Donald Trump’s Middle East misadventure.

Higher gas prices will indeed be the main quarter-on-quarter reason why bills stand at a three-year high on a unit basis.

But there is more to the tale on a longer view.

Even when the gas rollercoaster dips downwards, the energy industry’s medium-term projections suggest bills will not fall meaningfully.

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