UKEnergy bosses expose the lie behind Clean Power 2030Britain’s biggest energy suppliers have told MPs that bills are on track to climb by a fifth in the next four years, even if wholesale markets plummet by 50%, because of the rising cost of government policies. Octopus Energy said household energy bills were likely to rise by 20% unless the government took radical action to address the burden of increasing “non-commodity costs”, which include levies paid through bills to support upgrades to gas and electricity networks, running the energy system and subsidising low-carbon power projects. The CEO of E.ON told Parliament that even if wholesale gas prices were zero in 2030, electricity prices would remain where they are today because of policy and systems costs. WATCH: Claire Coutinho gives her reaction here and Nigel Farage responds on GB News here. UK energy debt at record levelsHousehold energy debt has hit an eight-year high. The amount of customers that owe their supplier has increased by nearly 30% in the past year, and British households are starting the winter owing £780m to their energy suppliers, a survey for Uswitch found. The average home now owes suppliers more than £220. IMF blames UK energy prices for high inflationThe IMF predicts the UK will face the highest rate of inflation among G7 nations both this year and next, driven by rising energy and utility bills. The forecasts are part of the Fund's twice-a-year outlook for the global economy. Hunting shifts manufacturing from Aberdeen to Middle EastThe UK has “left it too late” to save North Sea investment, a Hunting boss says, as the company announces “all the manufacturing we did in Aberdeen is now going to happen in Dubai”. SNP U-turns on RosebankThe SNP has dropped its opposition to developing the Rosebank oil field in a major shift away from Nicola Sturgeon’s net-zero agenda. The Scottish government suggested it was now neutral on the decision over whether to allow exploitation of the huge resource, about 80 miles west of Shetland, saying it was a matter for the UK government.
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