Thursday briefing: What it will take for Britain to break up with natural gas

In today’s newsletter: The economic fortunes of the UK are intertwined with the price of the costly fuel – so why are we so slow to ditch it? The economic fortunes of the UK are intertwined with the price of natural gas. It is an uncomfortable fact that we have all had to wrestle with in recent years. First, Russia’s invasion of Ukraine caused the biggest inflation shock in a generation as the price of natural gas exploded in 2022, sparking a cost of living crisis that shows little sign of abating. Now, the US and Israel’s attack on Iran threatens to heap further economic misery on the country. As Rachel Reeves arrives in Washington DC for the International Monetary Fund spring meeting, the bad news for the chancellor keeps coming: the IMF downgraded Britain’s growth prospects, with the UK suffering more than any other wealthy nation as a result of the conflict in Iran – driven in part by soaring energy costs once again. For today’s First Edition, I spoke with Jillian Ambrose, the Guardian’s energy correspondent, about the government’s effort to end Britain’s dependency on natural gas. First, the headlines. Middle East crisis | The US and Iran have been in indirect talks aimed at e