Britain pledged on Wednesday to cap wholesale electricity and gas costs for businesses at less than half the market rate from next month, helping relieve the pressure of soaring energy costs but adding to the government’s fast-rising spending. Wholesale prices for electricity will be capped at about 211 pounds ($239) per megawatt-hour (MWh) and for gas at 75 pounds per MWh, compared to forecast market rates of 600 pounds and 180 pounds respectively. read more “We have stepped in to stop businesses collapsing, protect jobs and limit inflation,” finance minister Kwasi Kwarteng said. Wholesale gas and electricity prices in Europe surged after Russia invaded Ukraine and have remained volatile since. Groups representing businesses from pubs to steelmakers welcomed the intervention, saying the government had thrown […]