hearing for high gas prices and cold and the cold winter ahead, we'll hear from our correspondence. welcome to the w business. i'm christy blossom, a new prime minister and the same old problems as she moves into 10 downing street live trust inherits a country in crisis from her predecessor boris johnson, a week economy, massive supply chain problems and skyrocketing prices for food and energy. and many brits are worried about the upcoming winter and wondering how they'll pay their bills. lincolnshire in the east midlands of england. it's home to gary and natasha waterhouse. she has been needing around the clock here since a cancer treatment. he has quit his job as a cabbie to provide gary shows us their utility bills. their costs have recently gone up from $36.00 to more than $200.00 euros per month for making plan of which rooms we can hate. at the moment. i mean, it might be

a case of just where blaring arc and her of say, having blankets around to keep warm on august 20 sakes, gary, found out how much more his cost of living could go up. that's when the government set a limit for energy providers. previously, they could not charge more than $2300.00 euros per average household. now, the limit has been up to 4100 euros. hundreds of thousands of brits don't know how they will be able to pay the difference. many are already depending on food banks to get by. it is very, very fearful because you're just thinking about how you're going to get the money to keep warm. how you going to get the money turned by the food which why is it gonna go through dog or heating? i think is gonna be very hard for us. yeah. yeah. we try to live like people. the recent crisis has been hardest on the poor

natasha and gary waterhouse have been supporting the conservative party. but they are disappointed before, after sinking, abandon ship her does is located at the home sternness in the, in the right direction, the squabbling monks themselves and the knots. folks in the, on the true thing, lots of photos, the people of his country. paper like that touch on gary who are unsure how to get through the coming winter. ringback or for more and this i want to go now to susanna streeter. she's a senior markets analyst at hargrove lands down the u. k. largest retail investment platform. susanna, thank you for joining shirley. these higher energy costs mean consumers will be spending less in other areas. what do you predict? absolutely, and we're already seeing this, we got the latest death index from the british retail consortium. it snapshot shows that wash,

many shoppers have been doing is not actually buying essentials like school uniforms. so much that they had done in previous years. instead, they're ring fencing budget and they're spending on things like neat where to keep them warm during the winter and also energy devices such as air fries, which are likely to and use less energy at during the winter months to be turning off their cookers and using these instead of calls that, that they can afford to make these purchases. so we're already saying this change in behavior. now interestingly, today we tell stalks have risen at the likes of next, which is the major clothing platform and sportswear at company j. d. sports. there is an expectation that energy bills will be frozen and that could give consumers a bit more wiggle room when it comes to being able to afford more discretion reactions. however, remember that bills are likely only to be frozen at the current rate,

which as there you are. porter pointed out to the red fall fowls and you rose. so already bill's gonna be sky high. so i think is very difficult spending decisions will still have to be made certainly will very interesting consumer trends there. what do you think this means for the overall health of the economy in the u. k. well, i don't see it, sir. very promising is a pretty bleak outlook because even if these energy bills are frozen, although the situation shouldn't deteriorate further, it's going to mean that so many consumers will have a lot less money to spend. as that, they're going to be extremely cautious heading into the winter months. so certainly for some sectors like retail, hospitality, leisure, there are some pretty tough times ahead. i think looking at the broader market of call. so if you've got higher energy prices that supports the energy johns, of course,

and so there will be some support in terms of the stock market. but in terms of the overall economy, there are lots of question marks this trust that she wants to capt. cut taxes as well, so that, that add to concerns about u. k. ball wrinkles as well because they've already been shooting up. i was on a street or from harvey of lance. man, thank you thought. now to some of the other global business stories making news. germany's volkswagen is preparing a partial public offering of its portia brand plan for later this year. the listing is expected to bring and billions that volkswagen aims to invest in strengthening its production of electric cars. batteries and software croatia has begun requiring businesses to display prices in both coon, up the national currency and the euro. the new rule is aimed at preparing for crash, a switch to the euro on january 1st. and flyers will also be required to display wages and both currencies. germany will keep 2 of its 3 nuclear plants running.

it says they will be kept in reserve over the winter as the country struggles to replace russian energy sources. berlin had planned to exit nuclear power at the end of the year, who was sticking on that topic all over europe. high energy prices are causing problems for people also for entrepreneurs and energy suppliers . now, countries are reacting very differently to the crisis. our correspondence in germany, france, italy, and spain explain how the german government has agreed on its biggest release package yet for citizens and companies facing the pain of soaring energy prices. after tough overnight negotiations on the weekend, the coalition partners decided to help vulnerable groups, including pensioners, students and people receiving social welfare support, as well as energy companies that depend on expensive imported fuel. the $65000000000.00 euro price tag will be paid in part by

a new tax on windfall profits being reaped by other energy firms that depend on cheaper fuels such as cole. and meanwhile, the tireless energy diplomacy of germany's economics and climate minister robert havoc has succeeded in partially weaning this country off of russian natural gas. paris has now increased a fuel subsidy by $0.12 to $0.30 per liter. it is also kept electricity, price increases by revenue. my call has already warned that the end of abundance is near and that energy prices will eventually rise. according to polls, the french are willing to reduce their energy consumption, as long as the government continues to help them financially. business and unions are calling for the government to do more,

even as 52000000000 euros have already been budgeted to soften the impact. the outgoing government of prime minister maria druggie is expected to call on the public to turn the heating down by one degree and to turn it off for an extra are every day. but his italians go to the polls on september 25th. the different political parties i expected to call for a cap on gas prices. i did the european level or domestically with others pushing for nuclear power or tapping further into local gas resources. clearly this is going to be on top of the jenda. any new government spain is taking part any you white efforts to save gas to make it through the winter visitors to spain may feel warmer than before, as public billings like shopping malls, restaurants, hotels, or even airports are not allowed to cool there in the spaces below. 27 degrees. in contrast, the autumn and winter heating of these areas is not allowed above 19 degrees

centigrade. furthermore, elimination of public buildings even shop windows has to be switched off off to 10 pm to ease the burden off its citizens. the government just decided to lower the tags on gas. now we go to him a hell critique, and he has an oil and gas market. analysts speaking to us from oslo, norway was russia anticipating europe, tightening its belt to the extent that it has a hail in its move to get off russian energy. i believe that the russian government expected to will somewhat different to re action through the guess. so blackmail. oh, well, i believe that mr. wooten expected to europe to decrease. so the oh, well, the heat, all those sanctions against russia and maybe to degrees serve the

a hell all over europe to or ukraine, which is the resistance there. russia, aggression. ok, well we just heard about to moves like well, wearing an extra sweater italians turning down their temperature by one degree. how significant are these moves actually going to be for energy markets? will they make a difference? yes, i think they will make a difference. at least in the minds of the population and, and the small contribution counts for the resistance to the rest of the black male . and we see that it's not only are there people in the streets that are resistant. it is of the industrial companies, for example, since the beginning of august, still they handled it over august. we see the consumption of natural gas by industrial companies in germany decreased by over 20 percent. there's us and

they're just saving and it's the, it is a very important factor for the resistance. right, right. well, what we're seeing here is, of course changes to people's consumption. also looking at different types of energy, is the industry expecting any sort of long term changes to how people consume energy because of this? yes, i expect. well, one of the strategic factors in the russia is, well expect in europe to slow down on the green transition on the new zation and switch to clean. and they're just such as hybrids in the wind, the solar and those and so forth. and we'll see the reaction of europe is absolutely opposite. the movement towards green energy use accelerate and in the europe. and i think there will be an absolute in you pattern of energy consumption

and energy production in europe, in about maybe half a year or 12 months. michelle critique and he's an energy analyst. thank you so much for joining us for that analysis. and a reminder of the top business story were falling for you at this hour as she moves into 10 downing street live trust inherits a country in crisis, a weak economy, massive supply chain problems, and skyrocketing prices for food and energy in the u. k. many brits are worried about the upcoming winter and wonder how they'll pay their bills. thanks for watching. that's our show. we'll see tomorrow. ah. with

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