'Tough measures': UK's energy crisis waits new PM Liz Truss's promises

The energy crisis in the UK is one of the most important issues on the table of the new Prime Minister, Liz Truss, with the rise in electricity bills in the country to record levels, exacerbating the suffering faced by the families.

The annual cost of living for a middle-income family in the UK rose by 1,980 pounds sterling ($2,700) in 2021, according to Resolution data.

A day before she was announced as prime minister, former Secretary of State Truss said on Sunday, September 4, that she would take immediate action to tackle rising electricity bills and an increase in energy supplies, according to Reuters.

Truss reiterated her pledge to be bold in tackling the hyperinflated and stagnant UK economy.

UK energy crisis

Writing in the Sunday Telegraph on the eve of the announcement of who will replace Prime Minister Boris Johnson, Truss said she understood how difficult UK's energy security crisis was and the rising cost of living for everyone.
The new prime minister said she will take decisive action to ensure families and businesses can get through this and next winter.

"If I am elected, I plan within the first week of my new administration to begin implementing urgent measures to solve the energy crisis and reduce bills," she added in her article.

European countries face severe problems in securing gas supplies, especially after Russia reduced the quantities exported. Fears are also growing that the gas supply will be completely cut off, as the European continent depends on it to meet more than 40% of its needs.

Although the UK does not depend on imported Russian gas directly, except for a small percentage, it obtains large quantities of Moscow gas from European countries with which it is connected by pipelines. This means that the worsening of the energy system in the European Union will have a negative impact on it.

"This will be followed by the organization of a financial event later this month by my advisors with a broader package of economic measures," Truss continued in her article.
She said that the approach she will follow is two-fold, the first is an immediate measure to address the cost of living crisis, and the second is a plan to achieve economic growth. Truss will also appoint a board of economic advisors to get the "best ideas" on how to boost the economy.

"We need to make tough decisions to make sure we don't go through this every fall and winter," Truss wrote. "I'm ready to make the tough decisions to rebuild our economy."

Truss was elected the new leader of the ruling Conservative Party, and then the new British Prime Minister, on Monday, September 5, beating her opponent, former Finance Minister Rishi Sunak.

The ruling party forced former Prime Minister Boris Johnson to resign after a series of scandals.

Renationalising energy firms

A recent survey showed that nearly half of Britain's ruling Conservative Party supports re-nationalising of the country's energy industry, as high electricity prices put pressure on household budgets, according to The Guardian.

The government is facing growing calls to do more to help Britons cope with energy bills that are set to rise by 80% to an average of 3,549 pounds sterling ($4,140) a year, starting in October as wholesale gas prices soar to record levels.
(Pound sterling = 1.15 USD)

The Times poll found that about 47% of those who currently plan to vote for the Conservative Party in the next election favor bringing energy companies back into public ownership, with 28% disapproving, and 25% vacillating.

Of those who voted Conservative in the last election in 2019, 53% supported renationalization, according to Reuters.
British energy companies were privatized before, under Conservative Prime Minister Margaret Thatcher, more than 30 years ago.

While the opposition Labor Party previously called for a re-nationalization, current chairman Keir Starmer said it would be better to spend the money directly to cut bills.