The new scheme will keep energy bills low from October. “We are boosting the UK’s local energy supply to fix the root cause of the problems we face and ensure greater energy security for all of us,” added Truss.
The energy prices worldwide reached their highest since the outbreak of the war in Ukraine in March. Since then, different European countries have tried to implement measures to reduce the impact on the cost of living of citizens. However the G7 I set a cap on Russian oil prices to avoid financing the country and reduce price volatility in the commodity. This measure caused Russia threatened to suspend all supplies after having already closed the gas pipeline North Stream I that supplied gas to Europe. Now countries are also developing strategies to boost saving energy for winter.
The UK had already decided to freeze fees for citizens for two years. The new package of measures contemplates fixed gas and electricity prices for companies for six months, effective as of October 1. Hospitals, schools, charities, among others, will also receive a financial assistance for a total of £150 billion.
The Foreign Minister and Finance Minister Kwasi Kwarteng He added that it intervened to prevent the collapse of companies, protect jobs and limit inflation. “And with our plans to boost local energy supply, we will bring security to the sector, growth to the economy and ensure a better deal for consumers,” the minister added.
Regarding this last aspect, the Government had announced the elimination of taxes on fracking to promote the local production of hydrocarbons.
The announcement of the mobilization of 300,000 Russian reservists boosted the price of oil this Wednesday.
Source: Ambito
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