06-09-2022, 10:02
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#1195
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Remoaner
Cable Forum Team
Join Date: Mar 2004
Posts: 32,864
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Re: The energy crisis
First details of the Government plan to cap energy bills: https://www.bloomberg.com/news/artic...ls-below-2-000
Quote:
Incoming Prime Minister Liz Truss has drafted plans to fix annual electricity and gas bills for a typical UK household at or below the current level of £1,971 ($2,300).
In discussions with her team and government officials in recent days, Truss has settled on a mechanism that will avert the massive increase in energy bills that is due to kick in at the start of next month under the existing pricing system, according to officials and advisers to Truss who were briefed on the plan. The policy could cost as much as £130 billion over the next 18 months, according to policy documents seen by Bloomberg.
Under Truss’s plan, energy suppliers will be obliged to charge households a reduced rate for their energy and the government will guarantee financing that will cover the difference with what they would have charged under the previous system, according to documents seen by Bloomberg.
Jacob Rees-Mogg, who is set to become Business Secretary in Truss’s government, held talks with the chief executives of energy companies Monday to discuss the plans. The companies were receptive to the idea, which means they will avoid a windfall tax and see the shortfall in their revenue covered by the taxpayer, a person present said.
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