In this latest OIES podcast from the Electricity Programme, Anders Hove talks to Research Fellow Dimitra Apostolopoulou about her latest presentation on electricity prices as part of the Oxford Institute for Energy Studies annual Energy Transition Event in June, which focused on various themes, including assessing the pace of electrification in multiple sectors. In this podcast, they delve into the factors driving higher electricity prices and explore what can be done to bring them down, both to ease the financial burden on end consumers and to send the right price signals for the electrification of transport, heating, and industry. They break down the components of electricity bills and examine how the shares of these components compare, with particular focus on wholesale and network costs and their projected trends. The conversation also highlights the critical role electricity prices play in shaping investment decisions for generation and flexibility resources, influencing electricity consumption patterns, and advancing electrification efforts. Finally, the podcast considers how both upstream and downstream electricity markets must be reformed to achieve more efficient and affordable pricing.