‘UK are taking action’ as gas prices fall

We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

Experts had warned the energy price freeze could cost £150 billion but Treasury officials have refused to put a price tag on the package.

Economists now believe the total could be just a fraction of that after gas costs were believed to have peaked.

Goldman Sachs predicted prices will halve by spring as countries make intensive efforts to avoid shortages.

The Centre for Economic and Business Research said using the US banking giant’s forecasts, the government’s energy bailout would be £30billion by next year and “largely disappear” in the 12 months after that.

Gerard Lyons, chief economic strategist at wealth manager NetWealth and an adviser to Prime Minister Liz Truss, said since the initial “extreme projections” of the cost of the package it has “become clear that European countries, including the UK, are taking action to address their energy supply needs”.

Source: Read Full Article