China has invested over $1…
Price action and the amount…
So much for British Prime Minister David Cameron’s claims that Labour’s promise to freeze energy bills was economically unsound, and not the way to deal with rising prices, as he has been reported to have asked the country’s big six energy companies to freeze their natural gas and electricity prices until the 2015 election.
The ruling coalition was dealt a blow when Labour party leader Ed Miliband promised to freeze energy prices for 18 months if victorious in the 2015 general election, and it has obviously decided that the best way to counter this promise, is by following it themselves.
Related article: UK Reviving European Nuclear Energy at High Costs
Reuters attempted to speak to the Energy Minister about this claim, but a spokesman would give no comment on the matter. It is hoped that more details will be provided by the Finance Minister George Osborne when he gives his budget update of the Autumn Statement on the 5th of December.
It was the BBC who reported the government’s decision to ask the big six to hold their prices until after the elections in mid-2015, supposedly part of a larger deal being discussed to lower energy prices.
Energy prices have been high on the political agenda since utilities began announcing increases of around 10% to be introduced in 2014.
By. Joao Peixe of Oilprice.com
Joao is a writer for Oilprice.com