https://morningwire.eu/fr/le-dirigeant-d-octopus-reclame-une-reforme-urgente-du-marche-de-l/
Octopus chief urges urgent energy market reform as price cap climbs
Octopus founder Greg Jackson warns that soaring gas prices are pushing UK households toward a new energy crisis and demands rapid reform.
Greg Jackson, founder of the UK’s largest household electricity supplier Octopus, has publicly urged Andy Burnham to deliver urgent reform of the energy market. Jackson said the recent removal of VAT on electricity and the trimming of certain levies had softened the winter impact, but bills remain “far too high”.
The call comes as the regulator Ofgem announced a four‑percent increase to the household price cap, taking the annual limit to £1,723 from October. Analysts at Cornwall Insight predict a further nine‑percent jump to £1,872 in January, while Boston Consulting estimates households will spend £264 more each year on energy over the next decade.
Rising price cap fuels pressure
Britain’s exposure to volatile global gas markets has intensified after the wars in Ukraine and Iran doubled gas prices since the start of the year. The combination of geopolitical shocks and domestic policy decisions has created what Jackson describes as an “unprecedented double crisis”.
“We urgently need to reform the market, make better use of our wind, and let people benefit from cheaper prices when green energy is abundant.”
Jackson has previously advocated for new drilling in the North Sea, arguing that additional oilfield output would improve energy security and help lower prices. The decision on whether to permit drilling at the Rosebank and Jackdaw fields was delayed by the Prime Minister amid concerns about the optics of approving new extraction during a summer of record heat and drought.
Calls for market overhaul
Opposition figures have seized on the price‑cap rise. Shadow environment secretary Victoria Atkins called the increase “outrageous” and accused the government of broken promises, especially after the winter fuel allowance helped many constituents fill heating‑oil tanks.
With the price cap set to climb further, policymakers face a tight window to act. If reforms to boost renewable utilisation and reconsider North Sea drilling are implemented, households could see relief before the next winter. Conversely, delays may deepen public discontent and intensify calls for broader energy policy changes.
For more on the political fallout, see Burnham under fire as UK energy price cap rises 4% and energy price cap hits three‑year high.
