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Octopus Energy boss issues bills warning over Strait of Hormuz closure
The CEO of Britain’s biggest energy supplier has outlined what customers can expect in the coming months if the Strait of Hormuz remains closed. The closure of the Strait during the Iran war, a key shipping lane crucial for the supply of a fifth of global oil and gas, sent oil prices soaring. Speaking to BBC Radio 4 on Monday (27 April), Octopus Energy boss Greg Jackson said: “If it opens before the end of May, then there is a chance of it being not that bad. And if it goes on beyond August, things get even more serious.” The government has stepped up planning for how to offset potential shortages sparked by the conflict. A contingency planning group of ministers led by the chief secretary to the prime minister, Darren Jones, is meeting twice a week. They are focusing on live monitoring of stock levels and seeing what plans are in place to address supply chain disruption.
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independent.co.uk
Government ramps up planning for possible supply shortages from Iran war
Oil prices have soared since the US-Israel war on Iran began, driven by the closure of the Strait of Hormuz
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bbc.com
UK steps up plans for potential shortages caused by Iran war
Officials are monitoring stock levels and planning for any potential disruptions to the supply chain.
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theguardian.com
UK faces higher prices for eight months after war in Iran ends, says minister
Darren Jones suggests cost of energy, food and flights will remain high after de-escalation and Hormuz strait reopens
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Octopus Energy boss issues bills warning over Strait of Hormuz closure
The CEO of Britain’s biggest energy supplier has outlined what customers can expect in the coming months if the Strait of Hormuz remains closed. The closure of the Strait during…