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China orders energy firms to secure winter fuel supplies at all costs
(The Guardian, 1 Oct 2021) Order may have knock-on effects for UK gas bills as second-biggest economy grapples with power cuts.
China has ordered state-owned energy companies “to do whatever it takes” to secure fuel supplies, putting further pressure on the price of gas paid by already struggling UK energy suppliers.
The vice-premier, Han Zheng, told China’s energy companies to make sure there is enough fuel to keep the country running as Beijing battles to manage a power crisis that threatens to hit growth in the world’s second-biggest economy.
Britain’s energy suppliers have come under severe strain in recent months after a spike in gas prices. Several have gone bust after they made promises to customers of maintaining fixed prices that they were unable to honour.
Ministers have faced criticism from business groups for a lack of planning that has left the UK acutely vulnerable to price swings on international energy markets.
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The Guardian, 1 Oct 2021: China orders energy firms to secure winter fuel supplies at all costs
