Grant Shapps has proposed eliminating “distortions” in the energy market, which could reduce monthly electricity rates by £100.

Grant Shapps indicated that the government‘s proposals to decouple gas and electricity prices would be unveiled later this week.

The initiative, which tries to resolve “distortions” in the British energy market and decrease the burden on consumers, has been eagerly anticipated by both business insiders and consumer advocacy groups.

The government intends to establish a more transparent and competitive market by separating gas and electricity rates, resulting in cheaper home bills.

Energy Secretary Grant Shapps disclosed in a Sunday Sun article, “On Thursday, we will also commit to resolving the mismatch between gas and electricity costs in family bills to make electricity cheaper over the long term. “I want to eliminate market distortions, which could reduce your electricity bill by £100.”

Ministers are contemplating a proposal to lower green taxes on electricity bills, which account for approximately 12 per cent of the overall cost and amount to £119 per year for the average home.

Gas bill levies are significantly lower, at 3.4% or £33 per household.