Policy moves to tackle a looming crisis are being debated but not enacted as the nation waits for the Conservative Party to choose the new prime minister.
Russia's invasion of Ukraine in February then led to sharp, sending European natural gas prices to a record high and triggering a rise in electricity prices, too.
"The impact has been exacerbated by high electricity prices in Europe, where drought conditions have affected hydro power plants and unplanned outages have reduced French nuclear output," Joanna Fic, senior vice president at Moody's, told CNBC.Since the start of 2021, 31 British energy companies have collapsed due to the spike in wholesale prices, with their customers transferred to other market players.
According to regulator Ofgem, the cap was introduced in 2019 to stop consumers who do not regularly switch suppliers from facing excessively high fees, rather than to prevent overall price rises which are dictated by wholesale markets.Nicolas Bouthors, equity research analyst at Paris-based AlphaValue, told CNBC that a few bankruptcies in smaller companies were still possible this winter, but it was likely all or the majority would weather the storm.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Judge dismisses lawsuit challenging Montgomery Co. schools’ gender identity policyA lawsuit that accused Montgomery County Public Schools of violating parents’ rights with their gender identity policy was dismissed in federal court.
Read more »
The Public Wants Scientists to Be More Involved in Policy DebatesResearchers worry about being branded as partisan, but people want to hear from experts
Read more »
Minneapolis Public Schools defends policy to prioritize retaining educators of color when determining layoffsMinneapolis Public Schools defended its agreement reached with the teacher's union this spring to exempt teachers of color from seniority-based layoffs.
Read more »
Nashville Prep School Bows to Pressure and Halts Trans-Positive PolicyAn all-girls prep school in Nashville was set to adopt a policy that would allow “any student who identifies as a girl” to apply for admission.
Read more »
Los Angeles requires youth basketball participants to wear masks, critic calls policy 'dangerous'A youth basketball league in Los Angeles is requiring participants to wear a mask at all times, even as the country is two years into the COVID-19 pandemic.
Read more »