Electricity market design that sets prices based on the most expensive generation (i.e. gas) is the big one recently (though non-generation costs can be 2/3rds of your bill):
> The knock-on effect to energy bills is amplified in the UK and other countries in Europe where electricity is organised through wholesale markets (in which generators bid to operate if the price is right) and in which most homes rely on gas for heating. Average home energy bills in the UK, which rose to over £1,200 (US$1,630) in 2021, are predicted to shoot up by around 50% in 2022. Up to half of the rise will come not from the gas you burn, but from the impact of gas on electricity prices.
> So why is a gas price crunch being felt just as strongly in electricity bills? After all, gas generates less than half of electricity – under 40% in the UK and only about 20% across the EU.
A simple solution would have been to windfall tax the war related gas profits and return them to the people, which I think many governments did but some were ideologically opposed to taking unearned profits from large corporations so delayed it or did it as little as necessary.
https://www.ucl.ac.uk/news/2022/jan/opinion-renewables-are-c...
> The knock-on effect to energy bills is amplified in the UK and other countries in Europe where electricity is organised through wholesale markets (in which generators bid to operate if the price is right) and in which most homes rely on gas for heating. Average home energy bills in the UK, which rose to over £1,200 (US$1,630) in 2021, are predicted to shoot up by around 50% in 2022. Up to half of the rise will come not from the gas you burn, but from the impact of gas on electricity prices.
> So why is a gas price crunch being felt just as strongly in electricity bills? After all, gas generates less than half of electricity – under 40% in the UK and only about 20% across the EU.
A simple solution would have been to windfall tax the war related gas profits and return them to the people, which I think many governments did but some were ideologically opposed to taking unearned profits from large corporations so delayed it or did it as little as necessary.