Energy Industry Calls For State Backed Crisis Fund To Prevent Huge Rises In Household Bills
The chancellor, Nadhim Zahawi, is being urged to embrace the idea of a “tariff deficit plan” to allow the pain to spread over 10 to 15 years, in a letter from energy group Energy UK. It argues that the state-backed fund would allow customers to repay the cost through a charge on bills or a tax – potentially freezing the price cap for two years. The Labor Party, which has called for such a freeze, pointed to the letter as evidence of “a consensus across the country, including in the energy industry, that urgent action is needed”....