Australia passed a law to cap domestic prices of natural gas to limit the impact of soaring global costs on local power bills, ignoring protests from the nationโs powerful energy exporters.
The European Union is closing in on a deal to cap the price of Russian crude oil at $60 a barrel, their latest attempt to clinch an agreement before a Monday deadline, according to people familiar with the matter.
Australiaโs government is considering action including a possible cap on the price gas producers can sell into the domestic market amid efforts to tame surging energy costs.
Electricite de France plunged by a record as the French government confirmed plans to force it to sell more power at a steep discount to protect households from surging wholesale electricity prices.
Ofgem has said it will slash bills for around 15 million households by as much as ยฃ95 as the regulator reduced its cap on energy bills to their lowest level yet.
Moneysupermarket found comfort in its energy division in the last three months as fears that Ofgemโs new price cap would make customers less likely to change energy supplier, proved false.
Households across the country have seen a combined ยฃ1.2 billion added to energy bills thanks to 42 price rises in the six months since the Government's flagship price cap was supposed to end rip-off bills, new research has found.
London's leading shares index made solid gains today as euphoria from a positive US jobs report and optimism around the future of the euro boosted investor confidence.