Timeyin Akerele

hopefully a lower cost electricity system.

Yeah, and so for households, we're one of the most expensive for electricity in Europe, in the developed world.

We are...

slightly more we're one of the cheaper ones for gas electricity gas prices to households so there's that sort of people talk about we've got a really expensive energy system well for electricity it does seem to be quite expensive and i'll explain why that is but for gas actually we're not in sort of the more expensive space we're probably in the in the cheaper half are you including tax in and or out of that calculation yeah so that moves us up and down exactly that does position

Yeah, so if we take the three sort of main chunks, if you like, that we were describing sort of costs of earlier...

In electricity, because we have primarily a gas, as I say, we're moving to renewables, but with gas still setting the price about two thirds of the time, that is when the gas price is high, that gives us an expensive system.

And so other countries that also are primarily gas dependent, they tend to have quite high electricity prices as well.

So Italy, for example.

But then on top of that, you've got the network charges.

And different countries recover network charges in different ways.

Some put more of the cost on households in order to protect businesses.

Others do it the other way around.

We try and do it on a sort of what we call cost reflective, sort of fair basis.

But that means our network charges for households are higher than some, lower than others.

Germany has higher costs because they protect their businesses.

And then you've got the policy costs and taxes on top of all that.

And historically, we've had quite high policy costs.

Again, not as high as Germany.

But as I say, the Chancellor has reduced those for households, not for businesses.

Just Germany?