Why have energy bills in the UK been rising?

The UK is particularly exposed to the energy crisis sweeping across the world – partly due to its dependence on gas for heating and electricity generation and poorly-insulated housing stock. After predictions that annual household bills were due to rise from around £1,000 to £3,500 in October 2022, the government announced it would provide support for households and businesses. LSE’s Anna Valero explains why there is now a need to double down on our efforts to build resilience through investment and meet net zero targets.