TechBizWebTechBizWeb

    Subscribe to Updates

    Get the latest news about Technology and Business from all around the web..

    What's Hot

    Fitbit’s old-school, OLED-equipped Inspire 3 is down to just $80

    June 10, 2023

    Animoca Brands to Focus on Markets Outside U.S. after SEC Labels Sand Cryptocurrency an Unregistered Security

    June 8, 2023

    Wildfire smoke makes New York air quality worst in the world

    June 7, 2023
    Facebook Twitter Instagram
    • About Us
    • Privacy Policy
    • Guest Post
    • Terms
    • Contact
    Facebook Twitter Instagram
    TechBizWebTechBizWeb
    Subscribe
    • Home
    • Technology

      Fitbit’s old-school, OLED-equipped Inspire 3 is down to just $80

      June 10, 2023

      Walmart’s taking a rare $20 off of a set of four AirTags

      June 1, 2023

      The M1 Pro 16-inch MacBook Pro with 1TB of storage is $800 off today

      May 22, 2023

      Google, how do I ask your AI the right questions?

      May 14, 2023

      Where to preorder The Legend of Zelda: Tears of the Kingdom

      May 6, 2023
    • Business
    • Cyber Security

      Hackers exploit bug in Elementor Pro WordPress plugin

      June 2, 2023

      15 million public-facing services vulnerable to CISA KEV flaws

      May 23, 2023

      HP to patch critical bug in LaserJet printers within 90 days

      May 15, 2023

      Hackers can open Nexx garage doors remotely, and there’s no fix

      May 7, 2023

      Microsoft April 2023 Patch Tuesday fixes 1 zero-day, 97 flaws

      April 29, 2023
    • Blockchain
    • Vulnerabilities
    • Social Engineering
    • Malware
    • Cyber Security Alerts
    TechBizWebTechBizWeb
    Home»Business»ScottishPower calls for private sector-backed fund to subsidise energy bills
    Business

    ScottishPower calls for private sector-backed fund to subsidise energy bills

    October 21, 2022Updated:October 21, 2022No Comments4 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp
    Share
    Facebook Twitter LinkedIn Pinterest Email

    All energy companies, including oil and gas producers, should pay into a multibillion pound fund to subsidise electricity and gas bills from April, when blanket UK government support ends, one of Britain’s biggest utilities has said.

    ScottishPower chief executive Keith Anderson proposed the fund to ensure millions of households’ energy bills continue to be discounted after the spring, when they are on average set to top £4,000 a year.

    New chancellor Jeremy Hunt on Monday announced the government would row back on outgoing prime minister Liz Truss’s pledge to limit typical yearly household bills to £2,500 for two years.

    Instead the government scheme — which caps the price per unit of electricity and gas that suppliers can charge and whose cost had been estimated at £150bn — will apply to all households only until April.

    Beyond that, Hunt said funding would be reviewed with the aim of targeting it at “the most vulnerable”.

    Anderson told the Financial Times the two-year protection for all households would have resulted in the Treasury writing an “open-ended blank cheque . . . that quite frankly the country can’t afford”.

    He added that an energy company-backed fund, which would be part-funded by public money, could replace other “rushed” policies. These include a windfall tax on oil and gas producers introduced in May and the revenue cap on low-carbon electricity generators, which was confirmed by the government last week.

    The tax has been widely attacked for enabling oil and gas companies to take advantage of a generous investment allowance and reduce their tax bills if they press ahead with new drilling projects.

    Anderson said the cap meanwhile did not apply to “half of the [electricity] generation sector”, such as gas-fired power stations, which have been boosted by the sharp rise in wholesale power prices since Russia invaded Ukraine.

    “There’s a need for all of us . . . oil and gas companies, upstream companies and every generator to sit in a room with the government and talk about how we contribute to [a] fund,” said Anderson. He added that the government should “pause, draw breath, stop running individual schemes” and consider how the energy sector “in its entirety” can help households.

    He called for any fund to prioritise roughly 10mn of the most vulnerable Britons, and said energy groups and the Department for Work and Pensions would have to work together to identify people receiving universal credit and other benefits.

    But energy companies are also keen to help middle-income households, which will struggle to pay their bills next year without help. Previous suggestions of how to do this include restricting the number of subsidised units of energy customers receive, as wealthier households tend to use more.

    Separately, in a letter to business secretary Jacob Rees-Mogg on Friday, executives from energy companies including Centrica, Eon, EDF Energy and SSE expressed anger over clauses in the recently published energy prices bill, which they claimed would “unexpectedly” hand ministers “extensive new powers”.

    The companies want clauses that would allow Rees-Mogg to intervene in the setting of Britain’s energy price cap to be removed from the legislation, whose main aim is to enable businesses to receive support with their energy bills this winter. Ofgem, the regulator, at present sets the level of the cap.

    The bill would also give ministers sweeping powers to modify energy groups’ licences and issue emergency directions to the sector in the event of a crisis. Industry bosses said these clauses had “the potential to impact just about everything energy companies do on an indefinite basis”.

    The UK business department said it “strongly” disagreed with the energy companies’ assessment of the bill, insisting that it “does not undermine regulation of the energy market”.

    Video: American LNG exports surge with European demand | FT Energy Source

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Wildfire smoke makes New York air quality worst in the world

    June 7, 2023 Business

    Democrats and Republicans confident they can pass deal to avert US default

    May 29, 2023 Business

    Salman Rushdie says he is writing book about near-fatal knife attack

    May 20, 2023 Business

    Imran Khan, the Pakistani politician taking on the army

    May 12, 2023 Business

    Oaktree Capital’s Howard Marks to undergo cancer treatment

    May 4, 2023 Business

    Joe Biden steps up commitment to South Korean nuclear defence

    April 26, 2023 Business
    Editors Picks

    Animoca Brands to Focus on Markets Outside U.S. after SEC Labels Sand Cryptocurrency an Unregistered Security

    June 8, 2023

    Wildfire smoke makes New York air quality worst in the world

    June 7, 2023

    Malicious Actors Exploit CVE-2023-27350 in PaperCut MF and NG | CISA

    June 5, 2023

    Idaho hospitals working to resume full operations after cyberattack

    June 4, 2023
    Trending Now

    People’s Republic of China State-Sponsored Cyber Actor Living off the Land to Evade Detection | CISA

    By techbizweb

    Study tests the potential of two quantum machine learning algorithms for malware classification

    By techbizweb

    New hyperactive phishing campaign uses SuperMailer templates: Report

    By techbizweb

    https://www.nationalsportsacademy.com

    slot gacor hari ini

    http://www.inadesfo.org/

    http://www.eueomgbissau.org/

    http://www.congo-mai-mai.net/

    http://www.angelesdelafrontera.org/

    http://fifaworldcup2018schedule.com/

    http://tony4gtrmcr.co.uk/

    http://www.standrewsagreement.org/

    http://www.bob-russell.co.uk/

    http://davidmulholland.co.uk/

    http://railwayhotelenniskillen.com/

    http://www.fantasysportstrades.com/

    http://www.rainleaf-flooring.com

    http://mothersagainstguns.org/

    http://ma-coc.org/

    slot online

    http://www.paradoxmag.com/situs-judi-slot-online-gampang-menang-2021/

    http://www.paradoxmag.com/situs-judi-slot-online-terbaru-2021/

    http://slot-terbaru.net/

    Slot Gacor

    Slot Online

    Situs Slot Gacor

    http://www.appdexterity.com/

    https://cars4kids-deutschland.de/

    https://www.stretchingculture.com/

    https://www.b-123-hp.com/slot-gacor/

    https://denzstaffing.nl/

    https://ezbbqcooking.com/slot-gacor/

    https://www.mbahelp24.com/slot-gacor

    https://minhtanstore.com/slot-jackpot-terbesar/

    https://njbpusupplierdiversity.com/slot-gacor-gampang-menang/

    https://www.floridaspecialtycropfoundation.org/slot-gampang-menang/

    https://childrenscornerpreschool.org/slot-gacor-gampang-menang/

    https://cryptoquoter.com/slot-online-terbaik/

    https://alorkantho24.com/slot-gacor/

    https://ellas.xyz/slot-gacor/

    https://it.dougamatome.xyz/slot-online/

    https://www.daltercume.com/slot-gacor/

    https://josi-ana.dougamatome.xyz/slot88/

    https://josi-ana.dougamatome.xyz/slot-gacor/

    https://fastobserver.com/slot-jackpot-terbesar/

    https://www.planetexperts.com/slot-gacor/

    https://bfsolution.group/slot-bet-kecil/

    https://rustleva.co/slot/

    https://bfsolution.group/slot-bet-kecil/

    https://www.hotelcalimareal.com/togel-online/

    https://anime-game.dougamatome.xyz/slot-gacor-gampang-menang/

    https://anime-game.dougamatome.xyz/togel-online/

    https://bourbonbarrelfoods.com/slot/

    http://suneo39.wp.xdomain.jp/slot/

    https://techbizweb.com/slot-gacor/

    https://www.generalcatalyst.com/18-daftar-slot-gacor-terbaik-gampang-menang-jackpot-hari-ini/

    https://www.hotelcalimareal.com/slot-online/

    https://www.blockgates.io/slot-gacor/

    https://l12.com.br/slot-gacor/

    slot paling gacor

    https://www.donalds-hobby.com/slot-online/

    https://thecryptodirt.com/slot-gacor-hari-ini/

    http://iseta.edu.ar/aulavirtual/app/upload/users/1/1205/my_files/sbobet.html

    http://escuelavirtual.mincit.gov.co/app/upload/users/1/194/my_files/slot.html

    https://www.dev.medecinesfax.org/courses/JUDICASINO/document/slot.html

    http://www.e-archivos.org/cursos/courses/JUDICASINO/document/slot-gacor.html

    http://iesma.com.br/ead/main/upload/users/4/447/my_files/slot.html

    https://www.fundacoop.org/chamilo/app/upload/users/1/1185/my_files/slot.html

    https://fata-aatf.org/eskola/main/upload/users/3/31/my_files/slot.html

    https://uancv.edu.pe/ofinvestigacion/app/upload/users/3/328/my_files/slot-terlengkap.html

    https://micost.edu.my/EL/app/upload/users/2/209/my_files/slot-gacor.html

    https://www.academiacoderdojo.ro/elearningdev/app/upload/users/2/2442/my_files/slot-online.html

    http://campus-cidci.ulg.ac.be/courses/JUDICASINO/document/slot-termurah.html

    https://www.escueladerobotica.misiones.gob.ar/aula-ste/courses/LIVECASINO/document/slot-tergacor.html

    http://ccdipeepccqqfar.usac.edu.gt/chamilo/app/upload/users/3/358/my_files/slot-online.html

    https://cunori.edu.gt/campus/app/upload/users/7/7334/my_files/slot-online.html

    http://u-rus.com.ar/aula/app/upload/users/1/1322/my_files/slot.html

    http://icrodarisoveria.edu.it/chamilo/app/upload/users/1/1855/my_files/slot.html

    https://iestpliliagutierrez.edu.pe/clarolgm/courses/CASINO/document/slot.html

    http://pva.cobach.edu.mx/app/upload/users/7/7379/my_files/slot.html

    http://www.imb-pc-online.edu.gt/PL/app/upload/users/3/373/my_files/slot.html

    http://avcs.upeu.edu.pe/main/upload/users/3333/my_files/slot.html

    https://chamilo.fca.uas.edu.mx/app/upload/users/1/11186/my_files/slot-online/

    TechBizWeb
    Facebook Twitter Instagram Pinterest Vimeo YouTube
    • Home
    • Guest Post
    • About Us
    • Privacy Policy
    • Our Authors
    • Terms and Conditions
    • Contact
    © 2023 Tech Biz Web. Developed by Sawah Dev.

    Type above and press Enter to search. Press Esc to cancel.