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Octopus Energy executives told MPs that household energy bills are on track to increase by 20% over the next four years regardless of wholesale market movements. The warning highlights how government policy costs and network upgrades are driving bill increases beyond energy commodity prices.

Energy Bills Projected to Climb Despite Falling Wholesale Prices

Britain’s largest energy supplier has warned that household bills could rise by 20% over the next four years even if wholesale electricity prices were to fall by half, according to testimony before Parliament. Octopus Energy executives told MPs that government policy costs and network upgrade charges are becoming the primary drivers of energy bill increases, overshadowing traditional market factors.