Rolling coverage of the latest economic and financial news
- Centrica CEO: no reason to think energy prices will come down anytime soon
- Government urged to act before price cap lifted
- Smart motorway rollout suspended amid safety concerns
Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.
The UK’s energy crisis could last for two years, Centrica chief executive Chris O’Shea has warned, in a sign that the cost of living squeeze will intensify.
“The market suggests the high gas prices will be here for the next 18 months to two years.”
There’s no reason to think that energy prices will come down anytime soon.
“As we move towards net zero, gas is a big transition fuel.
“And so as you turn off coal-fired power stations in other countries, there isn’t an abundance of gas that you can just turn on quickly.”
