However, what happens from now until late May on the wholesale energy market will determine what happens to h…

However, what happens from now until late May on the wholesale energy market will determine what happens to household bills from July. A sustained period of high wholesale costs could mean a sharp increase in energy prices for millions. The last time there was a particular spike, following Covid and Russia's invasion of Ukraine, the government had to step in to help with the Energy Price Guarantee. Miliband told the BBC that "if it's necessary to intervene, we will" on energy bills. However, he added, any intervention would depend on the scale of the impact from the conflict.