Energy prices for households and businesses

That this House notes the recent surge in global gas prices following the 2026 Iran War and disruption to liquefied natural gas supply; expresses deep concern that families could see their energy bills rise by £500 a year as a result of instability in global energy markets; recognises the millions of households and pensioners already struggling to make ends meet during the ongoing cost of living crisis; further recognises that the UK remains highly exposed to international fossil fuel price volatility, with gas frequently setting the price of electricity; recalls the significant costs borne by households and businesses during recent energy price shocks; believes that continued dependence on fossil fuels leaves the UK vulnerable global price shocks; congratulates the Government on listening to longstanding Liberal Democrat calls to break the link between the cost of electricity and the price of gas; and calls on the Government guarantee that energy bills will not rise by £500 this year, establish energy price reduction schemes and accelerate investment in secure, homegrown renewable energy to strengthen the UK’s long-term security.