Finance minister Jeremy Hunt announced Wednesday that he would extend the Energy Price Guarantee — which limits the average annual energy bill to £2,500 — until the end of June. Prime Minister Rishi Sunak said in a statement: “We know people are worried about their bills rising in April, so to give people some peace of mind, we’re keeping the Energy Price Guarantee at its current level until the summer when gas prices are expected to fall.
The extra subsidies were due to run out at the end of March despite a significant fall in wholesale gas prices in recent months. The contradiction led to calls for the government to extend the EPG. Wholesale European gas futures prices, which UK prices are linked to, have tumbled 87% since late August to reach €43 per megawatt hour, according to data from the Intercontinental Exchange.
Who said that bills are set to rise despite a recent plunge in wholesale natural gas prices? Why does the government need to fix the price of a commodity when the market price is going down?
Didn't some bank just shut down in UK
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:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China's new premier tries to reassure private sector amid widespread concerns about future | CNN BusinessChina’s new premier has tried to reassure the private sector in his debut press conference, as concerns grew about the country’s future policy direction with the introduction of a new cabinet loyal to leader Xi Jinping. They also reassured us about no militarization of South China Sea, Hong Kong, stealing of tech knowhow, Russia, Covid etc.. We won’t be fooled again. The real concern is the troubled American banks; The Chinese economy is expected to growth 5% this year; far far more then the U.S.
Source: cnni - 🏆 326. / 59 Read more »
From Wile E. Coyote to edibles: Recession forecasts are getting weird | CNN BusinessUnderstanding the economy is a complicated task, and even the experts are struggling to answer seemingly simple questions like 'Are we on the brink of a recession?' or 'Why isn't inflation falling faster?' WE ARE SAFE IN GOD'S HANDS...WE SHALL NOT PERISH, WE SHALL BE STRONGER THAN BEFORE. GOD LOVES YOU ❤️ Yes we are, because during recessions the rich get richer, relative to the poor, & they are ensuring no matter what we have a good ol' recession, for their benefit. Ummm yes
Source: CNN - 🏆 4. / 95 Read more »
The latest on the Silicon Valley Bank collapse | CNN BusinessUS and UK authorities are taking action to prevent wider financial chaos after the collapse of Silicon Valley Bank — the biggest failure of a US bank since 2008. Follow here for live updates. Biden: “The banking system is safe” Signature bank collapsed today. Third largest bank collapse in history. DEVELOPING: Trading Halted at 30 Banks as Market Opens - NYSE Halts Trading at Charles Schwab Take $1000 out of the bank in protest. Follow CNN for the latest lies about the banks collapsing
Source: CNN - 🏆 4. / 95 Read more »
Why Silicon Valley Bank collapsed and what it could mean | CNN BusinessSilicon Valley Bank (SVB) collapsed with astounding speed on Friday. Investors are now on edge about whether its demise could spark a broader banking meltdown. Here's what you need to know about the biggest US bank failure since the global financial crisis. Silicon Valley Bank collapsed for two days, Signature Bank collapsed. But Trump. Right ?
Source: cnni - 🏆 326. / 59 Read more »