![]() In a story that makes the frontpage of the Daily Mail, Liz Truss – the leading candidate to be the UK’s next prime minister – has pledged to restart fracking in order to make the UK an ‘energy-secure dynamo. The paper says that Full Fact “identified an £8bn black hole” in Labour’s calculations as the party “appeared to have based its calculations on funding only half the cost of freezing bills for a year”. At the same time, the Financial Times reports that Harbour Energy – the biggest oil and gas producer in UK waters – yesterday unveiled a more than 10-fold increase in first-half pre-tax profit to $1.49bn.Įlsewhere, the Daily Mail reports on an assessment of Labour’s plan to freeze the energy cap at April levels by Full Fact, an independent fact checking organisation. The Press Association reports that energy consultancy Auxilion has warned that households could see their fuel bills cost more than their monthly mortgage payments next year, and also that mental health emergency, charities and thinktanks have warned of the risk of a “full-blown economic crisis”. The Financial Times reports that Adam Bell, the former head of energy strategy at the business department, says the government should move on to a “war footing” to tackle the energy crisis. He added: “Now, we will have to wait a couple of weeks for a new prime minister to set out their agenda alongside a new chancellor, but both leadership contenders have been clear there will be a fiscal event and more help will be coming.” The thinktank the Institute for Fiscal Studies has said that the next prime minister will most likely be unable to avoid introducing a fresh package of support, reports the Press Association. ![]() We want the government to say what they are going to do.“ Will Quince, an education minister, told LBC radio yesterday that there was “no question” there will be further support on top of what was announced in May, reports the Press Association. We wanted parliament to be recalled ahead of the announcement but that did not happen…We want an emergency budget. The shadow chancellor, Rachel Reeves, said: “The only people resisting measures to help people are the government. She tweeted: “This rise must be cancelled, with the UK gov and energy companies then agreeing a package to fund the cost of a freeze over a longer period, coupled with fundamental reform of the energy market.” Labour has called for an emergency budget to tackle the cost of living crisis, reports the Guardian. In response, Scotland’s first minister Nicola Sturgeon said the energy price cap rise is “simply unaffordable for millions” and must be cancelled, reports the Press Association. BBC News, Financial Times, Politico and BusinessGreen all have the story. ![]() ![]() Sky News says the rise “follows a 54% increase in April”. He said that had left Ofgem “no choice” but to reflect cost increases in the price cap, adding: “The government support package is delivering help right now but it’s clear the new prime minister will need to act further to tackle the impact of the price rises that are coming in October and next year. The new cap will affect 24m households – about 85% of the population.” Jonathan Brearley, the chief executive of Ofgem, said that Russia’s invasion of Ukraine and reduction of gas supplies to Europe had driven the rise in wholesale gas prices, the paper reports. It continues: “Ofgem said it will not give projections for the next price cap change in January because the market remains “too volatile”, but warned that prices “could get significantly worse through 2023”. The energy regulator Ofgem approved the £1,578 increase on the current price cap of £1,971 for the average dual-fuel tariff – a rise of 80%, the paper explains. The energy price cap for UK households will rise to £3,549 a year on 1 October, the Guardian reports. Australian wildfires cause the largest stratospheric warming since Pinatubo and extends the lifetime of the Antarctic ozone hole.Probabilistic projections of increased heat stress driven by climate change.The carbon footprint fixation is getting out of hand.Renewable energy is the only way out of this mess.China’s top energy authority vows all-out efforts to avoid power cuts amid surging demand.Germany: Scholz wants to move away from fossil energy imports.Its floodwaters did not strike equitably. UK to announce support for Sizewell C nuclear plant next week.Dangerous heat predicted to hit three times more often in future.EU to urge big polluters to toughen climate pledges by COP27 summit – draft.Ukraine narrowly escapes nuclear catastrophe as plant loses power, Zelenskiy says.UK: Liz Truss pledges to overturn ban on fracking in bid to end UK reliance on foreign energy imports.UK: Ofgem raises energy price cap by 80% to £3,549 from October.
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