UK business minister says energy strategy could reduce bills soon

© Reuters. FILE PHOTO: Flames come out of a domestic gas ring of an oven in Durham, Britain, September 23, 2021. REUTERS/Lee Smith

LONDON (Reuters) – British business minister Kwasi Kwarteng said on Thursday the government’s new energy strategy should help to reduce consumer energy bills within the next few years, as the cost of renewable resources fall.

Asked how long it would take for the new strategy to have an impact, he said: “I think the impact could be very soon, and by soon, I mean three or four years. We’ve seen over the last 10 years the cost of offshore wind come down.”