Business Maverick: UK energy debts balloon to record £1.3bn before most expensive winter as blackouts loom

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 84%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

Households in Britain are already a record £1.3-billion (R26-billion) in debt to their energy suppliers ahead of winter, when bills are set to surge yet again.

Consumers typically build up credit with their providers during the summer – when energy usage eases – limiting the shock of higher demand in the winter. But soaring gas and power prices have made this summer expensive and fuelled warnings of an even bigger crisis in the coming colder months, with the potential of looming “organised” blackouts.

Some 6.5 million households owe an average £206 to providers, Uswitch.com said in a report on Wednesday. The number of those in credit has fallen to 9 million from 11 million in April. Electricity capacity shortfall could total about a sixth of peak demand, according to the government’s latest “reasonable worst-case scenario”, even after emergency coal plants have been put to use, Bloomberg reported, citing people familiar with the government’s planning.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

They must send money and arms to the suicidal Ukrainians

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: UK economy probably entered its worst slump since lockdownThe UK economy probably shrank for the first time since the country was in a coronavirus lockdown at the start of 2021, adding to pressure for action from the contenders vying to take over as prime minister.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Axios Media to Be Bought by Cox Enterprises for $525 MillionThe online news company Axios Media Inc. agreed to be bought by Cox Enterprises Inc., the latest in a recent flurry of digital deals by traditional media companies.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Bed Bath & Beyond Jump Brings Some Meme Frenzy to Broad RallyRetail traders who lurk in forums like Reddit’s WallStreetBets are back to betting against Wall Street pros and the Federal Reserve as rallies for meme stocks like Bed Bath & Beyond Inc. and AMC Entertainment Holdings Inc. show shades of last year’s mania. Thanks for restoring my happiness in my dark days, During this period I invested $1500 and to my greatest surprise I got a return of $15,500. He's reliability can’t be equated _JamesAlderson
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Consumers’ US Inflation Expectations Drop Across All Time HorizonsConsumer expectations for US inflation over the coming years declined sharply in the latest survey by the Federal Reserve Bank of New York, a finding that may ease the Fed’s concern about ever-rising prices getting baked-in to household behavior.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Ships resume Taiwan routes as China drills remain unclearShipping in the Taiwan Strait showed signs of returning to normal, despite a lack of clarity over whether China’s military exercises around the island have ended. But China’s defence ministry has defended its shelving of military talks with the United States in protest against House Speaker Nancy Pelosi’s visit to Taipei last week, warning that Washington must bear “serious consequences”.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Senate passes Democrats’ landmark tax, climate, drugs billThe US Senate passed a landmark tax, climate and health-care bill, speeding a slimmed-down version of President Joe Biden’s domestic agenda on a path to becoming law after a year of Democratic infighting that the White House was unable to control.
Source: dailymaverick - 🏆 3. / 84 Read more »