Energy News Round Up

by | Aug 10, 2022

Energy News Round Up

EDF sue the French government over price cap.

EDF sues its majority shareholder, the French state €8.34 billion in damages linked to an electricity price cap introduced by President Macron. The cap will limit electricity price rises to 4 percent this year for about seven out of ten French homes.

Centrica close £7 billion gas deal.

British Gas owner Centrica has signed a deal to purchase £7 billion of liquefied natural gas (LNG) from the US to secure supplies in the wake of the current energy crisis. The 15-year agreement means an extra 1 million tonnes of LNG being imported annually from 2026, enough to heat 1.5 million homes during a typical winter.

Domestic Energy bills are predicted to peak at over £4,400 a year by April 2023.

Domestic energy bills are predicted to peak at more than £4,400 a year, from April 2023 in a “fresh shock” for struggling consumers, according to the latest forecasts. The price cap is predicted to push up annual costs by about £700 from earlier predictions, meaning that an average family home would pay the equivalent of £4,427 a year for the three months to June.

Martin Lewis slams Liz Truss over energy bills forecast.

Liz Truss has been criticized by Martin Lewis, the money-saving expert for claiming that tax cuts will deal with energy price rises. Martin Lewis, said Liz Truss must set out detailed plans this month and even offered to help her draw them up,  as he warned that the current energy crisis risked sparking social unrest and potential deaths this winter.

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