Chancellor wants to reduce impact of gas on market prices, as it almost always sets price of electricity in UK Chancellor wants to reduce impact of gas on market prices, as it almost always sets price of electricity in UK The chancellor, Rachel Reeves , has said she and Ed Miliband, the energy secretary, are looking at ways to break the link between the cost of electricity and gas prices. Gas almost always sets the price of electricity under the marginal cost pricing model the UK uses. Speaking