Away from the Palace - MoD confirming some significant developments in Ukraine saying their armed forces have advanced 50km into Russian-occupied territory in Kharkiv region and were “likely taken by surprise” & “threatening significant blow” of taking Kupiansk & supply lines
As others are pointing out - even Russian state press reporting their soldiers have left Izyum - citing figures in the Kremlin-backed breakaway “government”
PM outside Number 10 says The Queen, who appointed her just two days ago, was the “spirit” of Britain and says “God Save the King” in relation to King Charles III
PM announces an “energy guarantee” for a typical household £2,500 rather than £3,549 announced by Ofgem. Significantly smaller rise than planned, saving typically households £1000 a year, but not a freeze, and the Government doesn’t claim it to be so.
Help from a fund for those off grid/ on heating oil - unclear what level.
Expected costs outlined at fiscal statement by Chancellor later this month
Looks like the Government will root out some of the windfall at source for renewable companies, rather than tax it after the event... the windfall arises out of marginal pricing of electricity at the gas price, solar and wind which has a marginal cost that is very low…. = £££
Some renewables are on older contracts Renewable Obligations Certificates (scheme still has another 15 years to run), that pay out at the market electricity price… I think about a fifth of electricity is generated in this way… and Energy UK were suggesting it could save £18bn
So what’s the catch? Clearly the threat of a windfall tax helped focus minds here.
But in order to switch contracts from the jackpot windfall ones, these companies will get a fixed contract at a lower price than now, but presumably higher price than normal. Just how much?
NEW White House briefs on camera hours after PM: President first call that “efforts to undo the Northern Ireland Protocol would not create a conducive environment for a dialogue” for talks on a trade deal. White House account of call refers to need for negotiated UK-EU settlement
Haven’t heard it said so directly on camera before, though she did say “there was no formal linkage”… that language rather points to open acknowledgment that from the US side there is an informal linkage though…
The new PM’s predecessor had rather given up on a US trade deal, having been told the US wasnt interested in any deals at all, and PM Truss hasn’t mentioned much about it, but her target of having 80% of trade covered by deals, obviously needs a US deal…