Britain's energy regulator Ofgem announced last month that it would raise its main cap on domestic energy bills by 80% from October, taking the average annual household payment to £3,549 ($4,197) from £1,971.
It comes as global energy markets come under continued pressure following Russia's invasion of Ukraine and resultant supply caps and sanction by the G7.
On september 2nd the Group of Seven (G7) countries launched a new attempt to regain the advantage in the West’s energy confrontation with Russia: imposing a price cap on purchases of Russian oil and oil products, probably to take effect on December 5th.
I think they are going down the wrong path for some time. it is simply a cause and effect.
Just a thought.
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