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The Government has asked for an independent review
of the UK energy market - just days after British Gas
announced it was putting up its standard electricity
Theresa May did pledge to cap energy prices
That happened since she lost her majority in the election.
Now the Business Secretary Greg Clark says the review will examine
how prices can be kept as low as possible while ensuring
the UK still meets its climate change targets.
Here's our business correspondent Joe Lynam.
How much we pay for our energy to run our households and companies
Policies like capping energy prices to support working families...
That's why Theresa May promised a price cap and an independent probe
into the energy sector before the general election.
And now this Oxford University professor
has only three months to find out where any fat can be trimmed from
He says he'll sort all of the facts from the myths
But some consumer groups are sceptical.
Prices are a very real problem for families across Britain,
This review is going to deliver benefits in a year's
So the people left with the feeling of a government that is
There are many stages in the energy value
chain, but the main ones include buying gas and electricity on
That accounts for 36% of a typical bill.
Moving it through pipes and cables or
distribution costs accounts for 29% of atypical bill.
But 13% of our bill also includes the subsidies for
poorer households, and the cost of developing Britain's renewable
The rest is made up of operational costs.
Tom Burke, who used to advise Labour and
Conservative governments on energy policy, says there's not much that
can be achieved in a three month time frame.
I think the review is essentially headlined management.
I don't think Dieter, heroic though he
is, is going to be able to come up with something that isn't already
widely discussed inside the energy community where we know that the
quickest and cheapest way to drive bills
down is to improve the
This investigation will allow the Government to show that it's not
tone deaf in the face of rising gas and electricity prices, especially
since only last week, Britain's largest provider, British Gas,
increased its standard electricity prices by 12.5%.
Both the US and China have welcomed tougher sanctions
against North Korea in the wake of its recent ballistic
The UN security council agreed the scanctions last night.
This morning, China's Foreign Minister said he hoped North Korea
would take what he said would be the smart decision on testing.
Earlier he met the American Secretary of State Rex Tillerson
at a conference of south-east Asian countries.
Yogita Limaye reports from the South Korean capital of Seoul.
It contains some flash photography. A picture that masks the tension in
this group. At a meeting in Manila, the US Secretary of State Rex
Tillerson was for the first time in the same room with his North Korean
counterpart. The two countries are in the midst
of a fierce confrontation over these missile tests by Pyongyang which
experts believe could reach the US. On Saturday, the UN Security Council
passed fresh sanctions against North Korea, drafted by Washington they
are aimed at hitting Pyongyang's exports and, therefore, economy.
At this meeting between South Korea's Foreign Minister and Mr
Tillerson the two leaders described the sanctions as a good outcome. The
measures were even backed by China, North Korea's ally and top trade
partner. TRANSLATION: The Chinese side urge the North Koreans to
calmly handled the UN Security Council resolutions and not do
anything beneficial such as a missile launch or nuclear test.
For North Korea the new sanctions could mean the loss of about $1
billion. But experts say it is unlikely to deter the state-run
conducting more nuclear and missile tests.
The North Koreans are unlikely to negotiate anything until they will
have a proven capability to deliver a nuclear strike to the continental
United States. Once they get such a capability, probably in a few years,
they are probably going to talk. Here in Seoul the President's that
has welcomed the UN resolution but the response in North Korea has been
expectedly belligerent. A newspaper run by the country's ruling party
said the US would be catapulted into a sea of fire if it did not change
its hostile policy towards Pyongyang.
In Manila the US Secretary of State commemorated those who died in World
War II, and with his meetings there he hopes to contain the threat from
North Korea. It is making the Americans nervous,
but there seems to be more immediate solution.
A man has died and another has been found clinging to a buoy
after a boat sank in the English channel early this morning.
The coastguard has launched a search for other crew members.
Our correspondent Simon Jones is there for us now.
What is the latest? Two men are still missing, believed to be in the
water. We have had two coastguard helicopters in the sky searching for
them and two lifeboats, passing ships have also been asked to be on
the lookout. It started at around 6am when a fishing boat spotted a
man clinging to a buoy around two miles off the coast from around
here. He was brought to shore, he had been in the water for several
hours. He is a 45-year-old from London, we
understand from Romania originally. He told the emergency services that
the boat he was on went down, it is unclear why, but three of his
colleagues are missing. The hunt continued and at around 8:15am the
body of a man was discovered and brought back to shore. The hunt is
continuing for the two other men. The water temperature is around 15
degrees, so as each hour passes, the hope is fading. Thank you, Simon
Jones. The Liberal Democrat leader
Sir Vince Cable has criticised elderly Brexit supporters for,
as he puts it, "comprehensively In an article in a Sunday paper,
Sir Vince - who is himself 74 -says older Leave voters are willing
to endure economic pain as a badge of honour,
although many of them do not He says they have had the last word
on Brexit by imposing a world view coloured by nostalgia
for Britain's imperial past. The Children's Commisioner
for England, Anne Longfield, says parents should limit the amount
of time their children spend online. She likened the internet to junk
food, saying that overuse could have a detrimental affect
on children's confidence We wouldn't let our children out
in a kind of strange city without, you know, giving them guidance
and looking after them, and actually we really shouldn't
for their digital world either. So this is about equipping children,
about enabling them to have the confidence
to manage their time online and also their confidence to say no
to that constant drain and pressure The American sprinter Justin Gatlin
will receive his gold medal later today after his dramatic 100 metres
victory over Usain Bolt at the World Gatlin has returned to the track
after two drugs bans and was booed Andy Swiss is there
for us this lunchtime. Andy, it's a result that
could overshadow today's events? Laasma's result has certainly pose
the sports awkward questions. And the sight of Justin Gatlin, a two
time drugs cheat on top of the medal podium will not sit easily with a
lot of people, especially after his boat Usain Bolt's farewell party
last night. It will be interesting to see what type of reaction he gets
when he collected his gold medal later. The head of the IAAF Lord Coe
says he hopes the fans will not boo him again, but interesting the
timing of the medal ceremony has been changed. It was due to be at
APM in the middle of the action, it has been brought forward to 6:50pm,
before things get under way. The organisers say they want to promote
a fair environment for the medal ceremony. Elsewhere hopes of British
success, Katarina Johnson-Thompson was fourth overnight in the women's
heptathlon, she has moved to third. She has had a good javelin, a good
long jump. Just one more event remaining. Thank you, Andy says.
You can see more on all of today's stories on the BBC News Channel.