Energy companies have proposed a mechanism based on the government subsidy program to support Renewable energy generation According to people familiar with the matter, as an option to protect British households and suppliers from high wholesale electricity and natural gas prices.

Talks between energy suppliers and the UK’s Secretary of Commerce Kwasi Kwarteng will resume on Wednesday as the industry pushes for measures to help consumers facing rising costs of living this year and prevent further large-scale collapse of the electricity and natural gas retail industry.

Since the beginning of August, more than 20 energy companies have closed down under the weight of high wholesale prices.

Analysts warned that when the UK energy price cap is adjusted by the regulator Ofgem, energy bills for millions of households will rise by more than 50% in April, reaching £2,000 per year. This could plunge millions of people into fuel poverty and lead to a cost of living crisis.

Happy New Year. What are you most looking forward to in 2022?Share with us [email protected] We may highlight your response in an upcoming newsletter. Thanks for reading FirstFT Europe/Africa — Jennifer

There are five more stories in the news

1. Finland insists on the right to join NATO Russia’s tense in Ukraine has reignited questions about whether this Nordic country Should join NATO, Ignoring Moscow’s request for a military alliance to restrict its expansion in Europe.

• related: The United States and its allies are ready to “Respond decisively“If Russia invades Ukraine, President Joe Biden told his colleagues in Kiev yesterday.

2. The EU Green Party criticizes nuclear power for “greenwashing” Germany, Austria and Luxembourg oppose the classification of nuclear power as Sustainable technology In the EU’s landmark green investment “classification” system, this is the core of the EU’s economic decarbonization plan.

3. The resignation of the Prime Minister of Sudan Two months after his reinstatement, Abdalla Hamdok resigned in a televised speech yesterday, stating New round of talks It is necessary to cooperate with the military in the stagnation of the transition to democracy.

4. The number of new cars delivered by Tesla hit a record high Electric car manufacturer Blow over The production and delivery records in the last few months of last year, regardless of supply chain and other issues, handed over 308,000 car keys to customers.

5. Despite sanctions, trade between the Baltic Sea and Belarus is still setting a record Belarus’ exports to Estonia, Latvia and Lithuania are At or near a record level, To consolidate their trade relations, even if these three Baltic states take a radical stance against the sanctions of Alexander Lukashenko’s regime.

Coronavirus Digest

• This world economy The rebound from the historical recession caused by Covid-19 is better than economists expected in 2021, but it faces The harder road in 2022. Since the beginning of the pandemic, who have been the winners and losers of businesses? Find out here.

• School is at UK Set as Move some courses online Widespread absence due to the rapid spread of Omicron variants. Boris Johnson urged ministers to formulate “Strong emergency plan“To deal with Employee absenteeism.

• Chinese officials have pledged to reduce shortage of food exist Xi’an The country recently fought with residents trapped at home in a city of 13 million people.

• Chief Medical Consultant of the United States Anthony Fauci Already warned “Unprecedented” surge Because the country has reported a record number of infections.

• Twitter has prohibit Republican Congressman Marjorie Taylor Green Repeatedly post pandemic error messages.

• Omicron is forced Trade fair postpone But the organizers are still optimistic.

the day before

CEO of New Johnson & Johnson Joaquin Duato Become the CEO The president of Johnson & Johnson (J&J) succeeds Alex Gorsky, who will assume the role of executive chairman. See what else in 2022 in our special edition Next week communication.

Israeli interest rate announcement Economists expect the country’s policymakers to keep interest rates unchanged stable, According to a poll by Reuters, but analysts expect to be tougher and tougher. (Reuters)

Economic data IHS Market will show the health of European manufacturing through a December report Purchasing Manager Index. (Wall Street Journal)

What are we still reading

M&A boom accelerates primary burnout of elite law firms For a long time, colleagues at the world’s top law firms have regarded exhausted time as part of the Faust contract, in which nights, weekends and sleep can be exchanged for jaw-dropping salaries.But junior lawyers have Reached a critical point With the surge in workload and the pandemic, anxiety and isolation have risen.

Royal insider Anne Glenn Conner: “I am not afraid of anything” At birth, Glenn Conner disappointed men. After that, they let her down, so she made up for it. She spent three years as the maid of Princess Margaret. “It’s not that I don’t like men! But those who are close to one Absolutely maddening,” she told Henry Mans during lunch with the Financial Times.

Can define ten economic trends in 2022 The pandemic has reshaped the world for the second year in a row, accelerating the trend from population decline to digital revolution. Ruchir Sharma inspection How will these trends define this year, from China’s economic slowdown to “green inflation” in commodity prices.

How to keep your New Year’s resolutions Behavioral Science Professor Ayelet Fishbach Discuss The best way to set goals -And persevere, and provide good news for those who are interested in changing a new job this year. There is no deadline, what is the value of financial commitments, Ask Stefan Wagstyl.

Lessons from the midpoint of life Soon after entering the new year, Janan Ganesh will be 40 years old.Share his findings before the milestone: check in luggage instead of taking it with you, eat only once a day, and Real romance.

Art

The desire for live performances, face-to-face events and tangible artistic experiences has not disappeared. Although the uncertainty of the pandemic shook art, This is worth looking forward to A year of cultural highlights.