UK house prices fell in June; London stock market celebrates best first half to a year since 2021 – business live

Rolling coverage of the latest economic and financial newsIn the energy sector, a £24bn investment programme to improve Great Britain’s power networks has been signed off, with customers warned bills will rise to help pay for it.Regulator Ofgem has given a “provisional green light” for network operators to invest £15bn in the country’s gas transmission and distribution networks, to ensure they keep operating safely.“Britain’s reliance on imported gas has left us at the mercy of volatile international gas prices which during the energy crisis would have caused bills to rise as high as £4000 for an average household without government support. Even today the price cap can move up or down by hundreds of pounds with little we can do about it.“This record investment will deliver a homegrown energy system that is better for Britain and better for customers. It will ensure the system has greater resilience against shocks from volatile gas prices we don’t control. Continue reading...

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