Australian Opposition Leader Peter Dutton has warned the federal Labor government’s plan to impose a cap on gas and coal price will only exacerbate energy prices and push away investors, contrary to what the centre-left government has promised. As the parliament is recalled to vote on the bill on Dec. 15, Labor’s energy relief plan…

Deputy Prime Minister Chrystia Freeland says the government is absolutely concerned with the struggles Canadians are facing as a result of inflation, but insists the current energy crisis is another reason to focus on the green transition. After Freeland made a similar comment Tuesday several critics accused her of not caring about the suffering of…

The increasing demand in China and a “long cold winter” across Eurasia are among the factors that caused the energy price hike in the UK, the British finance minister said on Thursday. Chancellor of the Exchequer Rishi Sunak said “the steep rise in demand for gas in places such as China” has pushed up global…

Barclays raised its 2022 oil price forecasts on Tuesday as it expects a faster-than-expected inventory drawdown and cautious supply response to offset a modest surplus next year. The bank raised its 2022 average price forecast by $3 to $80 and $77 per barrel for Brent and West Texas Intermediate (WTI) respectively. Oil prices fell on…

Britain’s energy price cap should be changed to become more reflective of the cost for suppliers to buy energy from the wholesale market, the boss of one of Britain’s biggest suppliers has said. The energy price cap is likely to cost the industry around £5 billion ($6.86 billion) over the next six months as customers…

Consumers who are moved to a new energy firm after their supplier goes out of business stand to pay almost £30 ($41) a month more, Citizens Advice has found. The energy watchdog warns people will face “desperate choices” this winter after finding that customers of the five largest failed suppliers are set to pay £6.70…