New British Prime Minister Liz Truss announces freeze on electricity bills

08 September 2022, 22:53 | Peace
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The new British Prime Minister Liz Truss declares the ability to protect citizens from multiple increases in energy prices, Radio Liberty reports..

" Today I keep my promise,"

Britons will pay no more than ?2,500 a year for electricity over the next two years under government plan. This will allow households to save more than a thousand pounds annually. In addition, the previously announced ?400 discount will remain.. Thus, the costs of British households on electricity will be close to current, that is, frozen.

These measures, the British government expects, will accelerate economic growth and reduce inflation by 5%, which will reduce the cost of servicing public debt..

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For businesses, public institutions and charities that feared a multiple increase in electricity costs, the same support is offered for six months as for citizens. After this period, the government will provide ongoing assistance to vulnerable industries.

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The UK government has said it will compensate electricity providers for losses, and will also fund environmental programs that were previously paid for by “green fees” from citizens.. 150 billion pounds sterling will be allocated from the country's budget to implement the support plan.

In addition, the energy supply group has started negotiations with local and international energy suppliers, including from renewable sources..

New long-term contracts will reduce electricity prices and increase the reliability of its supply, officials hope.

The British government intends to issue more than a hundred new oil and gas licenses, lift the moratorium on shale gas production, and increase the use of nuclear, wind and solar energy.

By mid-summer 2022, electricity prices in the UK have increased by 50% in price terms, and gas prices have doubled. By spring, energy bills in the country could have increased six times compared to pre-pandemic levels.




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