Tag: UK Energy crisis

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UK PM Liz Truss Freezes Energy Bills For 2 Years To Tackle Cost-Of-Living Crisis

Energy bills for an average British household would be capped at $2,872 a year.London: New British Prime Minister Liz Truss on Thursday said domestic fuel bills would be frozen for two years, marking her first week in office with a costly plan to tackle a worsening cost-of-living crisis.Two days after taking over, Truss unveiled emergency measures that include authorising more oil and gas drilling in the North Sea and lifting a ban on fracking, a controversial method to dig for fossil fuels.The government said it would also review progress towards its legally enshrined target to achieve net-zero carbon emissions by 2050, to ensure no "undue burdens on businesses or consumers", but stressed it remained committed to the goal.Households are facing an 80-per cent hike in gas and electricity...
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New UK PM Liz Truss Promises Imminent Action On Energy Crisis

Liz Truss assumed the office of UK's PM on September 6. (File)London: At her first parliamentary grilling as British prime minister, Liz Truss on Wednesday confirmed plans to stem huge rises in the cost of energy that threaten to plunge her new government into a winter of discontent.Jousting with opposition Labour chief Keir Starmer for the first time since she succeeded Boris Johnson, Truss also revelled in her status as the UK government's third female prime minister, noting Labour has still to elect a woman leader.Truss ruled out a windfall tax on energy firms' gargantuan profits, but said details of her plan would be released on Thursday to ensure consumers and businesses can still afford heating in the coming months.Whereas Johnson used the weekly session of "Prime Minister's Quest...