Higher costs from April on course to derail prime minister’s plan for £300 bill reduction, warns Energy UK

• Business live – latest updates

Keir Starmer has been warned that he will need to take “urgent action” to meet his goal of cutting energy bills by up to £300 by 2030, according to a report, as millions of UK households face higher energy costs from April.

The government’s plan to switch to a clean power system by 2030 will “ensure lower energy bills in the next decade”, according to research by industry body Energy UK. However it has warned that the effect will not be felt by the end of this decade and accused ministers of failing to set out an action plan for reducing household bills.