The axing of the energy price guarantee from April next year could lead to almost 11m UK households falling into fuel poverty, campaigners have warned, which is about 26m people. Continue Reading
One of the most senior Russian-appointed officials in occupied Ukraine said the Ukrainian army was poised to begin an attempt to retake the southern city of Kherson and urged residents Continue Reading
UK onshore industry group UKOOG Oct. 19 slammed the opposition Labour Party for its stance on the use of hydraulic fracturing — or fracking — in shale gas developments. Labour Continue Reading
The biggest jump in food prices since 1980 pushed British inflation back into double digits last month, matching a 40-year high hit in July in a new blow for households Continue Reading
British families may see their energy bills almost double when the government ends its price freeze in April. Chancellor Jeremy Hunt announced on Monday that Prime Minister Liz Truss’s flagship Continue Reading
France’s central bank head has warned that the recent turmoil in the UK’s bond markets illustrates the “vicious loop” governments face if they undermine efforts by rate-setters to curb soaring Continue Reading
London’s traffic congestion once meant that residents of the British capital had to endure some of the worst air quality in the developed world. In a bid to tackle an Continue Reading
Britons confronted by staggering costs this winter are turning down the heating and putting on the jumpers, and that matters for energy markets. Keeping the thermostat a few degrees cooler Continue Reading
Ratings agency Fitch lowered the outlook for its credit rating for British government debt to “negative” from “stable” on Wednesday, days after a similar move from rival Standard & Poor’s Continue Reading
The UK has placed new sanctions on Russia, blocking its citizens and businesses from purchasing an array of services from British firms, over the Kremlin’s decision to annex four regions Continue Reading
UK talking to market about commercial gas deal availability Norway, US, Qatar key gas suppliers to UK market Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Continue Reading
Truss had defended the policy on Sunday Kwarteng now says it was a distraction U-turn made with ‘humility and contrition’ – Kwarteng Cut in highest tax rate was small part Continue Reading
Follow us at @BloombergUK and on Facebook, and wrap up your day with The Readout newsletter with Allegra Stratton. The UK faces a “significant risk” of gas shortages this winter Continue Reading
Food inflation has soared to the highest rate ever recorded. Fresh food swelled to 12%, while the price of animal feed and fertilizer climbed even higher. Shoppers are expected to Continue Reading
UK retailers are facing a “mortgage time bomb,” with rising interest rates set to have twice the impact on consumer finances as the recent surge in utility bills, according to Continue Reading
According to Ofgem, three UK energy firms have severe weaknesses in how they support customers in payment difficulties. The regulator has demanded Scottish Power, Tru Energy and Utilita improve their Continue Reading
Prime Minister Liz Truss of Britain campaigned as a tax cutter and champion of supply-side economics, and she won the race to replace her scandal-scarred predecessor, Boris Johnson. Now she Continue Reading
BEIS talking to market about commercial gas deal availability US LNG producers approached for supply proposals: sources Pound weakness adding to LNG procurement costs in UK The UK government is Continue Reading
Sterling slumped to a record low on Monday, and a renewed selloff in British gilts pushed euro zone yields higher as the fall out from last week’s fiscal statement in Continue Reading
Europe May Rely on Coal More in Winter, Kung Says The UK may still face energy shortages this winter even after resorting to burning coal, with less power flowing through Continue Reading
Earlier this week, the UK government lifted the moratorium on hydraulic fracturing in England, removing what seems the biggest obstacle to greater energy security. According to geologists, however, this is Continue Reading
The UK government has lifted the moratorium on shale gas production in England. The UK department for Business, Energy and Industrial Strategy (BEIS) has announced that, to bolster the UK’s Continue Reading
Britain on Thursday formally lifted a moratorium on fracking for shale gas that has been in place since 2019, saying strengthening the country’s energy supply was an “absolute priority”. Energy Continue Reading
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 Continue Reading
The number of UK businesses exporting goods to the EU fell 33 percent to 18,357 in 2021, from 27,321 in 2020, according to data from HMRC. Discussing the figures with Continue Reading
The CF Industries Holdings Inc. fertilizer manufacturing complex in Ince, U.K. Photographer: Anthony Devlin/Bloomberg One of Britain’s biggest suppliers of carbon dioxide halted output at a plant in England, further Continue Reading
Underlining Russia’s widening isolation on the world stage, Prime Minister Narendra Modi of India told President Vladimir V. Putin on Friday that it is no time for war — even Continue Reading
Lower fuel prices caused an unexpected fall in British inflation in August, official figures showed on Wednesday, offering some respite to households and the Bank of England after inflation hit Continue Reading
Ineos has renewed its offer to the UK government. Ineos has announced that it is renewing its offer to the UK Government and new Prime Minister Liz Truss to drill Continue Reading
The UK’s new Prime Minister is set to unveil a substantial energy support package. The package will encourage North Sea drilling and potentially lift a ban on fracking. While Truss Continue Reading
British households will have their annual energy bills capped at £2,500 for two years in a £130bn+ scheme that will save consumers thousands of pounds. Prime Minister Liz Truss said Continue Reading
Highlights Move sets foundation for gas self-sufficiency: Cuadrilla Ineos renews offer to drill test shale gas well in UK Egdon pledges to deliver shale gas in ‘timely fashion’ A number Continue Reading
Truss to announce energy support plan on Thursday New PM rules out windfall tax on power firms Sterling falls to lowest since 1985 against U.S. dollar Kwarteng says borrowing will Continue Reading
Britain’s new energy minister, Jacob Rees-Mogg, is one of the most recognizable politicians in Britain, known for his old-fashioned double-breasted suits, an exaggerated upper-class accent and a love of archaic Continue Reading
Britain’s new leader Liz Truss capped soaring consumer power bills for two years on Thursday in a package to limit the economic shock of war in Ukraine that could cost Continue Reading
MakeUK, a manufacturing lobbyist, is warning that soaring energy prices could force manufacturers to halt operations. Skyrocketing energy bills and the wider cost-of-living crisis are squeezing plant owners. The rise Continue Reading
Truss Drafts Energy Plans to Aid UK Households, Businesses Incoming Prime Minister Liz Truss has drafted plans to fix annual electricity and gas bills for a typical UK household at Continue Reading
British Prime Minister Liz Truss holds her first cabinet meeting after taking office at Downing Street on September 07, 2022 in London, England. (Photo by Frank Augstein – Pool/Getty Images) Continue Reading
‘This will be the department for growth’. Jacob Rees-Mogg has been appointed as the UK’s new Secretary of State for Business, Energy and Industrial Strategy, after Liz Truss became the Continue Reading
Incoming British prime Minster Liz Truss is planning a 40 billion pound ($46.22 billion) support package for businesses to help them cope with rising energy costs, Bloomberg News reported on Continue Reading
Nadhim Zahawi, U.K. chancellor of the exchequer, said he was confident the price cap plan would succeed. “I’m confident that tomorrow we’re going to be able at the G-7 get Continue Reading
Inflation is grabbing all the headlines, but the crumbling pound is threatening to make things even bleaker for the UK’s economy this winter. Fresh from posting its worst monthly performance Continue Reading
Due to skyrocketing energy prices, Britons could soon face higher costs for charging their electric vehicles (EVs) at home than filling up gasoline-fueled cars, The Washington Times reports . The Continue Reading
For eight days in late August, the Port of Felixstowe — usually a scene of constant motion as Britain’s busiest container shipping dock — was almost devoid of activity, with Continue Reading
Energy regulator Ofgem has officially announced a new price cap for household energy bills, increasing the cap to £3,549 per year from the current price of £1,971. The price cap Continue Reading
Party support renationalizing the country’s energy industry, according to a survey published on Monday, as soaring energy prices put pressure on household budgets. The government has been facing growing calls Continue Reading
Highlights Russia was UK’s biggest supplier of refined products in 2021 Saudi Arabia, Netherlands, Belgium, Kuwait filling supply gap Question mark hangs over indirect imports of Russian oil The UK Continue Reading
Britain recorded its biggest fall in output in more than 300 years in 2020 when it faced the brunt of the COVID-19 pandemic, as well as a larger decline than Continue Reading
British Airways ICAGY -5.86%▼ is cutting more than 10,000 flights through the rest of the summer flying season and into the winter, threatening to extend the aviation industry’s chaotic postpandemic Continue Reading
UK inflation is on track to rise above 18% for the first time in almost half a century next year as energy prices rocket, according to the investment bank Citigroup. Continue Reading
