Energy companies will sign new contracts with the government (Getty)
Santrica, the owner of British Gas, is planning to voluntarily curb the booming profits in an attempt to lower family bills and defuse anger at them.
Santrica CEO Chris O’Shea told the British newspaper, The Guardian, today, Saturday, that he is keen for Santrica to become the “first company” to sign new, renegotiated contracts with the government over power generation. electricity.
As part of the new Prime Minister’s plan Liz Terrace The £150 billion plan to freeze energy bills would require renewables and nuclear companies to provide electricity, below current market prices, but Terrace refused to impose an unexpected tax on it.
On Thursday, Terrace pledged to freeze the maximum limit energy At 2,500 pounds for the typical family annually, down from 1971 pounds. According to JPMorgan analysts, the livelihood crisis has only just begun, and Terrace’s plan to freeze caps on energy prices will not work, as spending cuts will continue by 10%.
Ministers plan to “negotiate” with companies old wind, solar and nuclear contracts, which have taken advantage of windfall gains with rising gas prices, to persuade them to switch to newer, less lucrative deals, driving down prices in return for guaranteed long-term income.
In addition to being the largest supplier of gas and electricity in Britain For homes via British Gas, Santrica is also a major power generator with its 20% stake in British nuclear power plants.
The UK is “completely on a tightrope this winter”, with consumers being forced to choose between cooking or heating, putting millions of lives at risk, Capital Economics’ chief commodities expert, Caroline Payne, told The Independent.
arrived inflation In Britain, it has already reached 10.1%, the highest level in 40 years, and the US investment bank “Goldman Sachs” says that it may reach 22.4% next year, if oil and gas prices continue to rise.
O’Shea told The Guardian that he had discussed the idea, with the support of the British Energy Authority, with the government and talks were underway, explaining: “We are in this business for the long term. We are not in the process of maximizing our profits this year.”
And energy companies have backed proposals for contracts for difference (CfD), which give investors certainty regarding the levels of returns they can get, years following the energy crisis subsided.
The company powers more than 8 million homes and businesses in the UK, and if they can’t afford the energy, the company will not have a sustainable business.