FT: UK officials decide to allocate $118 billion to offset energy bills

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British authorities will pay more than £100bn (about $118bn) over two years for increased fuel and electricity costs. About author Financial Times newspaper.

Keith Anderson, CEO of Scottish Power, one of the UK’s six main energy companies, said: “In the face of fiery rising gas and electricity prices, this type of financing reveals the scale and depth of the crisis that has engulfed the country.”

The paper’s experts agreed that the maximum electricity bills for British residents should not exceed $2.4k a year. If this fee rises, the difference should be covered by suppliers using government loans. At the same time, electricity bills will already rise to $ 3.5 thousand in the near future.

August 20 Bloomberg reportedHe said nightclubs in London are once again facing crisis after the coronavirus pandemic and may close as a result of rising electricity prices and inflation. This trend threatens to shut down numerous organizations that contributed £46bn ($55.4bn) a year to the UK economy before the pandemic.

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