UK electricity pricing reform unlikely to deliver major bill relief.

UK electricity pricing reform unlikely to deliver major bill relief. The government's plan to increase the generator levy on older renewable projects and shift them to fixed-price contracts won't substantially lower consumer costs. Currently, gas power plants set wholesale prices across Europe, driving up bills in gas-dependent markets like Britain. While the levy aims to shield bills short-term, converting older renewable obligation certificates to contract-for-difference schemes would essentially lock in permanently higher electricity prices. Compensation payments to generators would further increase costs hidden within system charges. The structural issue remains unchanged regardless of subsidy restructuring.