Vouchers and Vat cuts would help minimise impact of soaring bills – electricity industry report

'The root cause of the problem is a shortage of gas supply and our addiction to imported fossil fuels,' according to Eurelectric secretary general, Kristian Ruby. File picture: eurelectric.org

The influence of gas on electricity markets has seen prices soaring by 532% since the beginning of last year — leaving the most vulnerable in society among the bigger casualties.

That is according to the latest report from the body representing the European electricity industry, which warned that without sufficient demand reduction, gas stocks could get emptied should Russia completely halt supply.