The UK has now gone a year without importing any Russian gas.
The government yesterday hailed this situation as a boost for Britain’s energy security and a blow to Putin’s war machine.
New figures show the UK did not take any Russian gas in the 12 months to end of March, while British gas exports to Europe tripled over the same period.
It comes as Ofgem announced a reduction in the energy price cap, which will see household bills fall by around £430.
Yesterday’s figures also show renewables generated a record 46.2% of UK electricity from major power producers over the past three months. This is up from just 3.5% for the same period in 2010.
The government said action taken by Britain to ban Russian gas, support European allies and increase the amount of energy generated from renewable sources is helping to kick Putin out of the global energy market and drive down bills.
Sources of imported gas
Russia was the UK’s fourth-largest source of imported gas in 2021, after pipeline supplies from Norway and liquefied natural gas supplies from Qatar and the US.
Energy Security Secretary Grant Shapps said: “We have led the world in standing up to Putin’s attempts to use energy as a weapon of war and, by slamming the door shut on Russian gas, we are helping to cripple the Kremlin war machine and safeguard the UK.
“It’s positive households across the country will see their energy bills fall by around £430 on average from July, marking a major milestone in our determined efforts to halve inflation.
“We spent billions to protect families when prices rose over the winter, covering nearly half a typical household’s energy bill, with wholesale energy prices down by over two-thirds since their peak as we’ve neutralised Putin’s blackmail.
“I’m relentlessly focused on reducing our reliance on foreign fossil fuels and powering-up Britain from Britain to deliver cheaper, cleaner and more secure energy.”
The UK futures price for gas continues to tumble and was down to less than 57p a therm yesterday – only a fraction of the 700p recorded in August 2022.
Putin attempts failing
Foreign Secretary James Cleverly stated that Putin’s attempts to weaponise energy supplies were failing.
He added: “Thanks to the steps we and our allies have taken, including to fast-forward the clean energy transition and on energy efficiency, Russian energy revenue continues to be dented and global prices have also fallen.
“Our support for Ukraine will not waver. We will continue to undermine Putin’s ability to wage war, including by cracking down on the circumvention of our sanctions.”