High Energy Costs Push UK Industry to the Brink

This week saw yet another hike in Britain’s electricity price cap—the latest in a string of hikes that have ranked the country among the top five with the most expensive electricity in the world. But there is a bigger problem: the country is the undisputed leader in industrial electricity prices in the world. And that may cost its government their energy transition plans. On Wednesday, energy regulator Ofgem announced a 2% hike in household electricity prices, beginning in October. This will add an average of 35 pounds, or $47, to a…