Government 'can sort out' energy cost crisis says expert

We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

On Thursday, Liz Truss unveiled a plan to help millions of families and businesses as she announced a two-year energy price freeze. Adding that it was a time to be “bold”, she set out an estimated £150billion emergency package that would cap the household bills at £2,500 per year. However, soon after the announcement, Britain was thrown into a state of grief and chaos as the Queen became ill and sadly passed away hours later.

In a statement yesterday, No10 noted that it does not believe the mourning period for Queen Elizabeth II’s death will have any impact on Ms Truss’s £150billion masterplan.

A spokesperson for the Prime Minister said that households around the country will have their bills frozen for two years, starting from 1 October, as scheduled.

This statement came amidst concerns that the 10-day parliamentary recess for mourning the Queen’s passing could hamper plans to stop the energy price cap from rising automatically to £3,549 next month.

But a No 10 spokesman said: “We’re implementing that guarantee initially through private contracts with suppliers rather than through legislation – so this mourning period doesn’t impact that introduction.

“We’re working urgently now on the wider aspects of the policy to ensure it can be delivered.

“As it stands, we do not believe the mourning period would impact on delivery of the policy.”

This clarification came as the Department for Business, Energy and Industrial Strategy (BEIS) confirmed that households currently on a fixed rate tariff would still benefit from the £2,500 energy bill guarantee.

Money-saving expert Martin Lewis warned of a potential issue that could arise for people on fixed rate tariffs, who may have had to cancel their deal and switch to a variable rate.

However, a spokesperson for BEIS told the BBC that such fixed-rate tariff customers “do not need to take any action to get the benefits of this scheme”.

Aside from tackling short-term energy price increases, Ms Truss also promised to tackle long-term energy security by announcing that a ban on fracking will be lifted.

She added that she hopes to get gas flowing from onshore shale wells in as little as six months where there is “local support” for the controversial practice.

The Prime Minister has argued that lifting the moratorium slapped down on fracking in 2019 could see developers request planning permission and get gas flowing in as soon as six months.

Expert lists 22 tips on how to knock thousands off YOUR energy bills [INSIGHT] 
‘We’ll freeze Europe’ Putin issues new threat [REVEAL] 
EU bust up erupts: Bloc in CHAOS as countries furious over VDL’s plans [REPORT]

And already, one firm INEOS, is renewing an offer to drill a shale gas test well in Britain.

The director of the firm, which is the largest chemicals and energy company in the world, has said it can drill for shale gas in the UK “safely and without harm to the environment”.

Tom Crotty said: “We are renewing our offer to the Government to drill a shale gas test well in the UK.

“Shale has helped transform the energy landscape and the local communities in the US. The US is well protected against the energy crisis as it is making the most of its natural resources.”

Source: Read Full Article