• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 1 day GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 8 days America should go after China but it should be done in a wise way.
  • 1 day Even Shell Agrees with Climate Change!
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 4 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 3 days World could get rid of Putin and Russia but nobody is bold enough
  • 6 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
New Tech Enhances Safety and Performance of Lithium Ion Batteries

New Tech Enhances Safety and Performance of Lithium Ion Batteries

Researchers at Incheon National University…

Mysterious Power Outage Paralyzes Tajikistan

Mysterious Power Outage Paralyzes Tajikistan

Tajikistan experienced a significant power…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

UK Scrambles For Solutions To Energy Crisis

The UK government believes it has until April to find a solution to ease the burden of surging natural gas and energy prices on utilities and households, although no immediate fixes have been adopted.

As a result of the energy crunch, households in the UK will face much higher electricity prices beginning in April, as the government prepares to raise the so-called cap on utility bills.

The UK’s energy regulator Ofgem is expected to announce the new price cap on energy prices in early February, but the effect on household bills will be felt as of April 1.

The UK government believes it has two more months after February to assess whether some consumers will need assistance or relief to blunt the impact of the surge in energy bills, a source with knowledge of the matter told Bloomberg.

Earlier this month, 20 Conservative Members of Parliament and peers called on the UK’s Prime Minister Boris Johnson in a letter to Sunday Telegraph to have the value added tax (VAT) and the environmental levies on energy bills removed.

Johnson, however, dismissed on Tuesday those calls, despite a pledge during the Brexit ‘Leave’ campaign that without the EU, the UK would be able to scrap the VAT on energy bills. Removing VAT on utility bills could result in assisting “a lot of people who perhaps don’t need the support,” he said.

While UK households face steep rises in energy bills, energy providers are going out of business by the dozens.

Two dozen power and gas suppliers in the UK had already exited the retail energy market as of the end of November, and more are likely to do so. Another 20 energy providers in the UK could go bust in what looks like a “massacre” in the coming months unless the government reviews the energy price cap, Keith Anderson, chief executive at one of the largest providers, ScottishPower, said in November.

The energy cap will be reviewed and raised as of April 1, but this will significantly increase the cost of living for Britons.

By Tsvetana Paraskova for Oilprice.com

ADVERTISEMENT

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News