Wednesday evening news briefing: 'Knock heads together' over energy

Your evening briefing from The Telegraph
Your evening briefing from The Telegraph

Energy bosses are being summoned for crisis talks with ministers over soaring prices – as a key route for transporting coal, oil and gas in Germany is close to running dry, pictured below.

Evening briefing: Today's essential headlines

Heatwave | After the first place in Britain ran out of water, Germany's Rhine river is close to running dry – in a devastating blow for the transport of goods. A key point along the waterway west of Frankfurt will become impassable for barges carrying coal, oil and gas later this week. Louis Ashworth explains how extreme heat is impacting other European rivers. With another hosepipe ban coming into force on Friday (check your area here), these are eight easy ways to save water.

Transport vessels cruise past the partially dried riverbed of the Rhine river in Bingen, Germany - WOLFGANG RATTAY/REUTERS
Transport vessels cruise past the partially dried riverbed of the Rhine river in Bingen, Germany - WOLFGANG RATTAY/REUTERS

The big story: Ministers to 'knock heads together'

Soaring energy bills will almost certainly be the new prime minister's biggest headache – and were today described as "a national crisis" on the scale of the Covid pandemic by consumer expert Martin Lewis.

Now energy bosses are being summoned for crisis talks. Discussions to "knock some heads together" will take place between gas and electricity company bosses and ministers tomorrow after the price cap was forecast to hit more than £4,200 in January.

Chancellor Nadhim Zahawi and Business Secretary Kwasi Kwarteng will ask executives to submit a breakdown of expected profits and payouts.

Seeking to downplay concerns over energy blackouts this winter, Education Secretary James Cleverly insisted that Mr Zahawi and Mr Kwarteng are "calling in the leaders of those big energy companies to knock some heads together and basically hold them to account about what they're going to do with those profits".

Mr Zahawi said that the Treasury has been preparing "options" for the next prime minister. This is how the cost-of-living crisis could be eased – but Jeremy Warner fears that neither candidate can save us from crisis.

Meanwhile, support is growing for the Don't Pay UK movement – a campaign that calls on the Government to scrap energy price rises or face one million people cancelling their direct debits.

But Derek Lickorish, chairman of energy firm Utilita, insisted that energy firms "will not be in a position to subsidise the bills" and called for a social tariff to help the poorest households.

Read more on how Ofgem, the energy regulator, warns that customers who refuse to pay will push up all bills.

Truss faces Red Wall voters

With questions over the cost-of-living crisis no doubt ringing in her ears, Liz Truss is facing questions from Red Wall voters.

Follow the Tory leadership favourite's answers in our live blog with Dominic Penna – which will then cover rival Rishi Sunak's grilling from Nick Robinson, the Today programme presenter, on the BBC at 7pm.

Their appearances come ahead of tomorrow's sixth leadership hustings, organised by The Telegraph and hosted by our associate editor Camilla Tominey.

Germany raises tax thresholds

Pressures on household finances are not unique to Britain, but some other countries in Europe are taking very different approaches.

As British workers brace for a £30bn stealth tax raid spurred by price increases, Germany is preparing €10bn (£8.5bn) of relief for families battling the rising cost of living.

Finance minister Christian Lindner said the country would raise income tax thresholds while millions of UK taxpayers are dragged into higher bands. Read more of his thoughts.

Comment and analysis

Around the world: Special forces 'behind daring raid'

Ukrainian special forces were behind the daring attack on a Russian airbase 125 miles into occupied Crimea, according to a Kyiv official. A US source said the assault is believed to have been carried out without a weapon via Washington. Our live blog has the latest after at least 12 explosions killed one person and damaged Russian aircraft. In his analysis, James Kilner says that Vladimir Putin will be rattled.

Wednesday interview: 'I never knew just who Alan Turing was – nobody knew'

Booker nominee Alan Garner tells Sam Leith about a rewarding chance friendship and his own remarkable career. Read the interview.

Alan Garner
Alan Garner

Sport briefing: Sparking a Tottenham revolution

It will not be hard to spot the Tottenham team bus when it pulls into Stamford Bridge for Sunday's tie against Chelsea. Emblazoned with the club's crest and giant letters, it is far from subtle. Out will spill Antonio Conte and managing director of football Fabio Paratici, both dressed in sharp club suits. Matt Law reports how the gradual change of culture at Spurs since Paratici's appointment is an attempt to change perceptions of a club that has so often been accused of trying to cut corners.

Editor's choice

  1. Obituary | Raymond Briggs, illustrator and author whose work enthralled all ages

  2. Travel | Why the rise of clueless 'Instagram-adventurers' is so dangerous (and dumb)

  3. Parenting Confessions | 'My daughter is going to be a bridesmaid for my ex-husband'

Business briefing: Pound jumps as US inflation slows

Sterling has surged against a weaker dollar after lower-than-expected US inflation data dented expectations of more Federal Reserve interest rate rises. The pound jumped 1.3pc to its highest level since the start of the month. The weaker reading was driven by a fall in fuel prices, which offset a rise in food and accommodation costs. James Warrington says many Americans are still loading up on credit and dipping into savings.

Tonight starts now

Changing Rooms | Despite a cool reception for the revival, here comes series two of the car-crash makeover show, full of MDF and "maximal" decor (Channel 4, 8pm). Host and designer Laurence Llewelyn-Bowen remains the reason to watch, his charisma as bright as the cobalt blue he splashes on the walls of a beige-loving couple’s home in Tunbridge Wells tonight. But what is it like to be given a new room by your neighbours… only to hate it? In this piece from our archives, Miranda Levy asked some of the original contestants to recall their decorating disasters.

Three things for you

And finally... for this evening's downtime

Property | A "lifestyle" garden is top of buyers’ wish lists this summer, with estate agents estimating they are prepared to pay up to a 25 per cent premium for a garden they can use all year round. Anna Tyzack explains quick and cheap ways to add value to your home by sprucing up your outdoor space (no matter how small).

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