Boris Johnson says energy crisis is a 'short-term problem' and dismisses risk of Christmas disruption

Boris Johnson says energy crisis is a 'short-term problem' and dismisses risk of Christmas disruption

The prime minister has described Britain’s energy crisis as a “short-term problem” and said he does not think there will be disruption to food supplies at Christmas.

Speaking to Sky News political editor Beth Rigby in New York, Boris Johnson said: “There is a short term problem caused by the hydrocarbon price spike, the gas price spike, caused basically by the huge demand in Asia.

“The market is going to start fixing it, but in the meantime the government will do everything we can to help people, to help fix it, to make sure that we smooth things over.”

Soaring global gas prices have thrown the industry into crisis, with warnings that a number of energy companies could go bust in the weeks to come.

Meanwhile, the energy price cap is set to rise from next Friday to £1,227, a record level.

This means many families will face a double whammy of rising energy bills and the end of the £20-a-week uplift in Universal Credit.

Mr Johnson’s comments come after one of his ministers acknowledged earlier that hard-pressed families will face a “difficult winter” as a result of these two factors.

Business Secretary Kwasi Kwarteng said it was “a difficult situation” and he had spoken to cabinet colleagues, including Chancellor Rishi Sunak, about the pressures confronting households.

The energy crisis is having a knock-on effect in other areas, with food producer Bernard Matthews warned Christmas dinner could be “cancelled” as the sharp rise in gas prices meant two large fertiliser plants, which produce CO2 as a by-product, have shut.

And asked about potential disruption to Christmas, the PM replied: “I don’t think we’re going to have any problems on that scale.”

Internet Explorer Channel Network
News Related

OTHER NEWS

Tesla zooms past US$1 trillion market cap on bet that the EV future is now

Tesla shares closed up 12.7% at US$1,024.86. NEW YORK (REUTERS, BLOOMBERG) – Tesla surpassed US$1 trillion (S$1.35 trillion)  in market value after landing its biggest-ever order from Hertz, a deal that ... Read more »

Women hosts earn US$70 billion on Airbnb

During the last year, hundreds of studies have proven that women from low to middle-income countries have disproportionately suffered from the pandemic. However, it seems women are changing the narrative ... Read more »

Conceiving safer payments After many consumers were recently defrauded, experts say users must accept heightened security methods when paying online, write Suchit Leesa-Nguansuk and Somruedi Banchongduang

A person shows several rapid cash withdrawals, each of 34.15 baht, that appeared in her bank passbook when it was updated. Photo from the ‘Sharing Experience on Unaware Cash Withdrawals’ ... Read more »

5G to be core of digital infrastructure investments

Post-pandemic infrastructure investments will include 5G expansion, telemedicine solutions and big data analytics, according to Turnkey Communication Services (TKC), a provider of telecom and ICT (information and communications technology) solutions ... Read more »

Post-Covid EV industry surge anticipated Startups looking to venture into electric vehicle businesses are upbeat on the prospects, writes Yuthana Praiwan

An electric tuk tuk redesigned to better serve elderly and disabled people. Startups venturing into electric vehicle (EV) businesses expect to see rapid post-pandemic growth of the industry, with more ... Read more »

Gender-Neutral Toys for Children Gain Ground California law looks to remove gender from toy marketing; new research into children's play sheds light on gender biases

California mandates gender-neutral toy aisles for large retailers. Bloomberg New efforts are under way to eliminate what some toy makers, parents and advocates see as a longstanding issue in the ... Read more »

Companies Bet Shoppers Will Keep Paying Higher Prices P&G, Nestlé, Chipotle say price increases haven't turned customers away, and they expect that to continue even as inflationary pressures mount

Some of the world's biggest companies are betting consumers will keep paying more for products from coffee to toilet paper. Corporate giants including Procter & Gamble Co., Nestlé SA and ... Read more »

New Tour Teaw Thai gets tepid response Only 383 packages sold in first phase

A poster promotes the ‘We Travel Together’ subsidy programme which got underway on Oct 8. The new Tour Teaw Thai, which helps subsidise 40% of tour packages of up to ... Read more »

State preps incentives to spur EV demand

An electric vehicle on display at the Thailand International Motor Expo. The government’s target is that 30% of all cars produced in Thailand should be EVs by 2025. Wichan Charoenkiatpakul The ... Read more »

Used car market likely to enjoy continued growth

Second-hand cars have become a more attractive choice for prospective car buyers during the pandemic. Kitja Apichonrojarek Thailand's used car market is expected to continue growing, thanks to the Covid-19 ... Read more »

Ministry aims to keep living costs in check This year's inflation forecast at 0.8-1.2%

A vendor sells food items under Pak Kret bridge in Nonthaburi, which was heavily inundated by a flood from the Chao Phraya River on Oct 10. Apichit Jinakul The Commerce Ministry's ... Read more »

Become circular? Dutch stock exchange companies are not working on that yet

If you ask large companies, you will often be told that they are already doing a lot on sustainability – it is a top priority. But in reality, the sustainability ... Read more »

Plagued Facebook continues to grow

The social media giant, which also includes Instagram and WhatsApp, saw its revenue increase by a quarter to more than $29 billion, with a net profit of $9 billion below ... Read more »

Salad chain Sweetgreen files to go public

A Sweetgreen location in Bethesda, Maryland.Jeffrey MacMillan | Getty Images Salad chain Sweetgreen on Monday filed to go public on the New York Stock Exchange under the ticker “SG,” aiming ... Read more »

Harmoney secures A$105m funding line, targets NZ securitisation in 2022

Online lender Harmoney has secured a A$105 million funding line – its third funding line since moving away from a peer-to-peer lending model. The asset-backed securitisation has taken over a ... Read more »

Facebook reports $9 billion profit on day documents highlight internal anger

Facebook's business has continued to show strength despite broader economic challenges and growing concern about the societal impact of its social network. Read more »

S&P 500, Dow close at new highs as Facebook starts heavy earnings week

While the Dow and S&P hit new highs, the Nasdaq outperformed on the day, buoyed by gains in Tesla and PayPal. NEW YORK (REUTERS) – The Dow Industrials and S&P ... Read more »

Work demands more and more of us: ‘Your boss or client is constantly stealing energy and time from you'

During the first wave of corona, March last year, Marguerite van den Berg was director of the master’s degree in sociology at the University of Amsterdam and taught a course ... Read more »

Fonterra lifts milk price forecast to $8.40/kg, equalling record

Fonterra has raised its 2021/22 farmgate milk price range to $7.90 – $8.90 per kg of milk solids, with an $8.40 per kg midpoint. The previous forecast was $7.25 – ... Read more »

Investors jointly buy Europe's largest online pet store

A Boston Terrier. Photo Getty Images Where two investment companies fought for a leg, they are now going together. US private equity firm Hellman & Friedman and Swedish investor EQT ... Read more »

Amazon workers in Staten Island file for union election

Organizers representing more than 2,000 workers, some dressed in "Squid Game" costumes, filed the petition to the National Labor Relations Board office in Brooklyn. Read more »

Acquisition of the oldest bank in the world fails again

There seems to be no end in sight for the problems with the bank Monte dei Paschi di Siena, the oldest bank in the world. After three months of negotiations, ... Read more »

Mega-order for Tesla: car rental company buys 100,000 electric cars

A boost for Tesla: American car rental company Hertz has placed a mega order for the delivery of 100,000 electric cars. How much the car rental company pays for the ... Read more »

Tesla-Hertz EV deal signals to national rental car fleets it's time to go electric

Jeff Greenberg | Universal Images Group | Getty Images The economics of the rental car industry give companies including Avis Budget Group and Enterprise Holdings multiple reasons to go slow ... Read more »

Hainan launches large-scale head hunting project for Free Trade Port

The program will cover not only China's regions, but also foreign markets Read more »

Petrofac in £180m cash call to fund SFO bribery settlement

London-listed Petrofac will announce a $250m equity-raising and wider refinancing weeks after it was fined £77m by the SFO for bribery offences, Sky News can reveal. Read more »

Politicians agree on one thing: farmers are also victims of the nitrogen crisis

The astonished, the angry and the sorrowful. Every Member of Parliament reacts in his own way to the news of NRC that hundreds of farmers received permission from provinces to ... Read more »

Tesla CEO Elon Musk's fortune surges $39 billion on Hertz order

NEW YORK (BLOOMBERG) – Elon Musk’s personal fortune jumped by almost US$29 billion (S$39 billion) to US$281 billion after Hertz Global Holdings placed an order for 100,000 Teslas and filings ... Read more »

Groningen thinks big and wants to speed up the process of making houses gas-free

Groningen is thinking bigger and bigger. Where other municipalities postpone or cancel plans to make neighborhoods natural gas, the municipality of Groningen wants to remove more houses from gas than ... Read more »

Trump SPAC Digital World Acquisition drops 10% after huge gains on social media merger news

The social media app will be developed by Trump Media and Technology Group (TMTG).Rafael Henrique | LightRocket | Getty Images The SPAC stock linked to Donald Trump's planned social media ... Read more »

Everyday prices are soaring — so why are stocks still flying high?

Main Street may be digging deeper into its pockets, but Wall Street is buoyant. Read more »

U.S. to require contact tracing, Covid tests when international visitor curbs lift next month

A traveler wears a face mask while checking their phone on the arrivals level outside the Tom Bradley International Terminal (TBIT) at Los Angeles International Airport (LAX) amid increased Covid-19 ... Read more »

Billion dollar order Tesla with 100,000 cars for Hertz

The American car rental company Hertz has placed an order with Tesla for 100,000 cars. The order for these electric cars will generate an additional turnover of 4.2 billion dollars ... Read more »

Russian media watchdog prepared 16 protocols against Google — Deputy Head

The fine can be from 1/20 to 1/10 of company’s annual revenues Read more »

Schroders swoops for River & Mercantile arm in £230m deal

Schroders, the £717bn asset management behemoth, is in advanced talks to buy River and Mercantile Group's £43bn Solutions division, Sky News understands. Read more »

Quick Heal September net profit rises 20.1% to Rs 34.6 crore

Security software provider Quick Heal Technologies on Monday said its consolidated net profit rose 20.1 per cent to Rs 34.6 crore in the September 2021 quarter. The company had posted ... Read more »

Elon Musk's wealth peaks above $250 billion, Tesla to $1 trillion in market cap

The very prosperous ride up in recent weeks of Tesla, in which Musk has a large stake, has given his wealth wings. According to data agency Bloomberg, the top boss ... Read more »

Moderation in Eastern languages reveals Facebook's technological problems — senator

According to the report, Facebook employees and algorithms subjected statements in Arabic to excessively harsh moderation, erroneously taking them for political calls Read more »

Jagran Prakashan Q2 profit soars sixfold to Rs 60.89 crore

Jagran Prakashan Ltd, the publisher of Hindi daily Dainik Jagran, on Monday reported a sixfold jump in its consolidated net profit to Rs 60.89 crore for the quarter ended in ... Read more »

150 flats to be handed over to Amrapali homebuyers around Diwali

NBCC is the project management consultant for the Amrapali projects and is responsible for the quality and timely completion of work (Representative picture) The Supreme Court was informed on October ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic