We are living through sky rocketting levels of inflation, ever-increasing food bills and as we’ll discuss in this video, increasing energy prices. The UK is a member of G7, with the 6th highest GDP in the world, yet millions are already forced to skip meals due to increasing levels of poverty; which is set to increase even further with the rise of wholesale energy prices. In this video, we will discuss the reason energy prices are increasing, why the measures being put in place by the UK government do not tackle the root cause of the problem, and what other countries are doing right to tackle rising wholesale energy prices.

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References:

[1] ICAEW Insights, “Chart of the week: energy price cap update”, 01/09/2022,
https://www.icaew.com/insights/viewpo...
[2] UK Government, “Review of electricity market arrangements”, 18/07/2022 - https://www.gov.uk/government/consult...
[3] Carbon Brief, “Analysis: Why UK energy bills are soaring to record highs – and how to cut them”, 12/08/2022 - https://www.carbonbrief.org/analysis-...
[4] The Guardian, “Big oil’s quarterly profits hit £50bn as UK braces for even higher energy bills” 02/08/2022 - https://www.theguardian.com/business/...
[5] - The Guardian, Zarah Sultana, “Britain isn’t just facing a cost of living crisis: it’s facing a bonanza of corporate greed” 09/08/2022 https://www.theguardian.com/commentis...

Chapters:
00:00 - Introduction
00:27 - What is the Energy Price Cap?
00:54 - A Perfect Summary
01:37 - (End of Interview) How Are Energy Prices Regulated?
03:10 - Why Are Energy Bills Increasing?
04:22 - Is The Government Fixing This?
06:00 - What Are Other Countries Doing?
06:55 - What Can You Do?

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