Green Tories have warned that Britain's “perilous reliance” on gas could cost taxpayers billions of pounds.
Future price shocks could cost taxpayers between up to three percent of GDP a year, the Office for Budget Responsibility (OBR) has found.
Alexander Stafford, Tory MP for Rother Valley, said: "We are far too reliant on gas for power and heating. As this analysis warns, we need to switch to cleaner forms of energy like offshore wind and nuclear, or taxpayers could face an enormous bill to shield our economy from future gas price spikes.
“Doubling down on clean energy is more than just a way to tackle climate change. It's the best way to protect taxpayers from another energy crisis, winning green investment and creating jobs in the process.”
Conservative Bim Afolami MP, a member of the Conservative Environment Network (CEN), said: "This report shows that our economy is perilously reliant on gas.
“It's why inflation is sky-high, and economic growth is sluggish. But with our world-leading offshore wind industry, we can cut people's bills, create jobs and shield families and businesses from future energy crises.
“To do this, we need to win more investment by offering tax breaks and axing planning bureaucracy so it doesn't take 13 years to build a cheap wind farm off our coast.”