• 5 minutes Mike Shellman's musings on "Cartoon of the Week"
  • 11 minutes Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 17 minutes WTI @ 67.50, charts show $62.50 next
  • 15 hours Newspaper Editorials Across U.S. Rebuke Trump For Attacks On Press
  • 11 hours WTI @ 69.33 headed for $70s - $80s end of August
  • 3 hours Pakistan: "Heart" Of Terrorism and Global Threat
  • 5 hours The Discount Airline Model Is Coming for Europe’s Railways
  • 5 hours Venezuela set to raise gasoline prices to international levels.
  • 1 day Corporations Are Buying More Renewables Than Ever
  • 15 hours Batteries Could Be a Small Dotcom-Style Bubble
  • 1 hour Saudi Fund Wants to Take Tesla Private?
  • 11 hours Starvation, horror in Venezuela
  • 3 hours Scottish Battery ‘Breakthrough’ Could Charge Electric Cars In Seconds
  • 2 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 16 hours Don't Expect Too Much: Despite a Soaring Economy, America's Annual Pay Increase Isn't Budging
  • 17 hours France Will Close All Coal Fired Power Stations By 2021
Oil Prices Fall Despite Supply Fears

Oil Prices Fall Despite Supply Fears

Oil prices started the day…

Oil Prices Fall On Significant Crude Build

Oil Prices Fall On Significant Crude Build

Oil prices fell on Wednesday…

British Government has Asked for an Energy Price Freeze until 2015 Elections?

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



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News