Overview
- The King’s Speech on Wednesday outlined an Energy Independence Bill that would make new North Sea exploration licences illegal and keep the fracking ban in place.
- Households would get cheaper electricity during sunny or windy periods when renewables surge, and fees on power exported from home solar panels would be scrapped.
- A new Warm Homes Agency would run a £15 billion program, including about £5 billion for free upgrades for low‑income families and typical grants of £9,000 to £12,000.
- Ministers plan to make permanent the shift of most legacy renewable subsidies from bills to taxation for an average £90 saving, raise the electricity generator levy to 55%, encourage fixed‑price contracts, and speed up offshore wind, hydrogen and grid builds.
- The government says existing licences remain valid, leaving major fields such as Rosebank and Jackdaw awaiting decisions, as the bill moves to Parliament with Conservatives and Reform UK opposed and campaigners supportive.