UK energy boss: Government must show more urgency to solve energy price hike
December 27, 2021, 10:08 am

UK energy boss: Government must show more urgency to solve energy price hike

UK-Newcastle/Pixabay

One energy boss has told the BBC, the government is showing "nowhere near enough urgency" in finding a solution to steep increases in gas and electricity prices.

The BBC said that Ovo's boss Stephen Fitzpatrick predicts the rise in wholesale gas prices and its impact on people will be "an enormous crisis for 2022".

Mr Fitzpatrick said the main worry was how consumers would be supported through price increases.

He said: "We've seen this energy crisis unfold now for the last three months and we've watched as energy prices have spiked, fallen back, and spiked again."

"We've had more than 30 bankruptcies in the sector, we've had millions of customers forced to change supplier.

He added: "The cost to the consumer has already been more than £4bn. We haven't seen any action from the government or from the regulator. There's an acceptance that there's a problem, but nowhere near enough urgency to find a solution."

Boris Johnson expected to back energy-intensive industries as gas prices soar

UK PM to be briefed on latest Covid data as he weighs need for new measures

British man arrested at Windsor Castle detained under Mental Health Act

The BBC said that in recent months, wholesale gas prices have risen to unprecedented levels. Last week, they hit a new record of 450p per therm, which experts think could take average annual gas bills to around £2,000 next year.

Mr Fitzpatrick's comments come ahead of Monday's meeting between Business Secretary Kwasi Kwarteng and the bosses of leading energy companies and the regulator Ofgem.

Source: BBC

British man arrested at Windsor Castle detained under Mental Health Act Sudanese Prime Minister Abdalla Hamdok intends to resign soon

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”