UK to cap energy prices, end fracking ban to ease crisis

By JILL LAWLESS and SYLVIA HUI
Associated Press

LONDON (AP) — British Prime Minister Liz Truss says her Conservative government will cap domestic energy prices for homes and businesses to ease the cost-of-living crisis. She also says she will approve more North Sea oil drilling and lift a ban on fracking to increase the United Kingdom’s domestic energy supply. Truss told lawmakers Thursday that the two-year “energy price guarantee” means average household bills will be no more than 2,500 pounds a year for heating and electricity. Bills had been due to rise to 3,500 pounds pounds a year beginning in October, triple the costs of a year ago. Critics say that means taxpayers will have to foot the bill, instead of energy companies that are seeing windfall profits.