British households will be facing a “significant rise” in energy prices as the price cap is set to be raised next spring, the head of the UK’s energy regulator said on Friday. Ofgem chief executive Jonathan Brearley said the price cap, set by the regulator to control the cost of gas and electricity, will be…
White House Says ‘No Action’ at This Time to Tame Surging Gas Prices But ‘All Tools’ on Table
The White House said Thursday that the Biden administration is not taking action at this time in response to gasoline prices hitting seven-year highs and elevated crude oil and natural gas prices, adopting a wait-and-see approach while insisting “all tools in the toolbox” remain at the ready. White House Deputy Press Secretary Karine Jean-Pierre made the…
Households Brace for Higher Winter Heating Costs as Natural Gas Prices Vault
October 6, 2021
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The relentless rise in natural gas prices continued on Wednesday, highlighting the looming threat to American households bracing for higher heating costs in the event of a harsh winter. U.S. natural gas futures were up 1.11 percent at $6.382 per million British thermal units (mmBtu) in early trading on Oct. 6 after jumping around 9 percent…
Higher Gas Prices Cut Household Income by $120 Billion
Retail gasoline prices have risen by a dollar over the past 12 months as the economy began to reopen, increasing demand for fuel. Higher pump prices are now crimping consumer budgets and putting a brake on household spending on non-energy items, according to analysts. Prices at the pump as of Oct. 5 have soared to $3.20 per gallon…
Higher Gas Prices Cut Household Income by $120 Billion: Deutsche
Retail gasoline prices have risen by a dollar over the past 12 months as the economy began to reopen, increasing demand for fuel. Higher pump prices are now crimping consumer budgets and putting a brake on household spending on non-energy items, according to analysts. Prices at the pump as of Oct. 5 have soared to $3.20 per gallon…
Shell Energy Takes on 255,000 Customers From Collapsed Supplier Green
Shell Energy is to take on 255,000 former customers from Green, one of the latest in a raft of small energy supplier to fail over the past month. Energy watchdog Ofgem has had to find providers for more than 2 million energy customers over the past month after soaring natural gas prices drove the collapse…
Soaring Gas Prices Ripple Through Heavy Industry, Supply Chains
LONDON—Global record high natural gas prices are pushing some energy-intensive companies to curtail production in a trend that is adding to disruptions to global supply chains in some sectors such as food and could result in higher costs being passed on to their customers. Some companies, including steel producers, fertilizer manufacturers, and glass makers, have…
UK Government Rules out Bailout for ‘Badly Run’ Energy Firms
The British government has said it has no intention to bail out energy firms that are struggling amid rising wholesale gas prices. Wholesale gas prices have increased by 250 percent since January, with a 70 percent rise since August alone, leading to the demise of some smaller energy firms. Business Secretary Kwasi Kwarteng said on…
Deep Dive (Sept. 2): Rising Death Toll After Ida Pummels East Coast
Tragedy occurred on the East Coast after the remnants of Hurricane Ida passed through New York, New Jersey, and Pennsylvania. The death toll is rising, with at least 24 dead. There were scenes of excessive flooding as two governors issued emergency declarations, with even a tornado appearing in New Jersey. Coasts further up brace for Ida…
NTD Business Full Broadcast (Aug. 31)
Consumer confidence plummeting to its lowest level in 6 months. We look at what that means for the economy. We might see fuel prices go up even more soon. Ida forced oil production to shut down, and experts say you should expect price fluctuations heading into the labor day weekend. And South Korea passes a…
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