Letter from London: Leadership lacking as energy crisis looms
The UK is facing a winter of energy price discontent, but the governing Conservative party is focused on its own internal struggle
Surging energy prices are poised to drive a significant portion of UK households into fuel poverty this winter, making retail energy bills a major electoral issue. But a political interregnum is adding to uncertainty over how, if, and when the government may take further action. The UK’s Conservative administration has already committed to supporting households through the Energy Bills Support Scheme, with 29mn households set to receive a £400 ($484) discount to their bills in six instalments from 1 October, plus additional payments for specific demographics such as pensioners. The scheme is being funded through the UK’s windfall tax, called the Energy Profits Levy, on oil and gas companies.
Also in this section
7 May 2024
Ample stocks and a soft demand outlook will limit how much LNG Europe can import this year
3 May 2024
Upcoming elections are likely to deliver a win for the party of president Andres Lopez Obrador, but analysts differ over to what degree his successor will stick to his energy policies
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well