New UK Prime Minister Liz Truss vowed on Thursday to bring down soaring consumer energy costs by “ramping up all sources” of domestic supply, including renewables and North Sea oil and gas.
Truss said the government would cap energy bills for two years in a package to limit the economic shock of the war in Ukraine that could cost the country about £150 billion ($172 billion).
Truss, who took over as prime minister on Tuesday, told lawmakers the government will launch a new North Sea licensing round, which is expected to lead to the award of more than 100 new licences.
