PoliticsMedia: UK plans to limit energy revenues

Media: UK plans to limit energy revenues


Bloomberg: UK plans to limit revenues of renewable energy producers

MOSCOW, October 11 – RIA Novosti. The UK government plans to impose revenue caps on renewable energy companies to lessen the impact of rising energy prices on residents. transmits Bloomberg cited sources familiar with the situation.

According to the agency, representatives of the UK Department of Business, Energy and Industrial Strategy met with the largest renewable energy suppliers on Monday evening. The agency declined to provide details, saying the government will continue to protect households from rising energy prices.

It is noted that the negotiations in the UK are carried out according to the scheme of the mechanism proposed to be introduced in the EU to impose a temporary income limit on companies that produce electricity at low cost.

The British government is reportedly holding talks with industry over the coming winter amid the anticipated energy crisis. At the time, it was about supplying electricity by “green” producers at fixed prices, not market prices. But talks have stalled amid fears that prices for most electricity will already be insured before the end of the year.

The West has increased the pressure of sanctions on Russia because of Ukraine. The disruption of supply chains has increased fuel and food prices in Europe and the US. In the UK, the rising cost of living has hit millions of households. The country’s energy bills have increased significantly. Against this background, British Prime Minister Liz Truss had to freeze energy bills for the next two years from 1 October so that the average annual gas and electricity bill would not exceed £2.5k.

British media had previously reported that Truss’ intent to freeze residents’ energy prices could cost the country £130bn ($150bn) in a year and a half. This comes after British energy regulator Ofgem announced in August that it will increase the maximum allowed annual electricity bill for consumers to £3,549 from 1 October.

Source: Ria


Please enter your comment!
Please enter your name here

Latest news

Guardiola signs new contract with Manchester City

Athletic: Manchester City manager Guardiola signs new contract with clubMOSCOW, November 22 - RIA Novosti. Manchester City manager Josep...

The Federation Council proposed to expand cooperation with the financial systems of friendly countries.

The building of the Federation Council of the Russian Federation in Moscow. archive photo Zhuravlev, Deputy Chairman of the...

Buzova and Kirkorov will play Galya and Ippolit in Self-Irony of Fate

Host Olga Buzova and singer Philip Kirkorov will play Galya and Ippolit in "Self-Irony of Fate"MOSCOW, November 22 -...

Xi Jinping expressed his condolences to the Indonesian leader in connection with the earthquake

Chinese President Xi Jinping. archive photoChinese President Xi Jinping expressed his condolences to Indonesian President after earthquakeBEIJING, November...

Lautaro Martinez describes Saudi Arabia’s World Cup defeat in two words

Footballer Martinez: It is very painful to lose to the Saudi Arabian team at the beginning of the World...

FAS sees no violation in taxi price increase in bad weather

Car on the road during heavy rain in Moscow. archive photo FAS did not see any violations in the...

Must read

Guardiola signs new contract with Manchester City

Athletic: Manchester City manager Guardiola signs new contract with...
- Advertisement -spot_img

You might also likeRELATED
Recommended to you