BML 4.94 Increased By ▲ 0.04 (0.82%)
BOP 14.65 Decreased By ▼ -0.06 (-0.41%)
CNERGY 7.04 Increased By ▲ 0.01 (0.14%)
CPHL 89.01 Decreased By ▼ -0.18 (-0.2%)
DCL 12.75 Increased By ▲ 0.04 (0.31%)
DGKC 186.15 Decreased By ▼ -0.30 (-0.16%)
FCCL 51.08 Increased By ▲ 0.03 (0.06%)
FFL 16.96 Increased By ▲ 0.02 (0.12%)
GCIL 28.00 Increased By ▲ 0.30 (1.08%)
HUBC 164.51 Increased By ▲ 3.20 (1.98%)
KEL 5.03 Increased By ▲ 0.02 (0.4%)
KOSM 6.94 Decreased By ▼ -0.13 (-1.84%)
LOTCHEM 21.40 Increased By ▲ 0.01 (0.05%)
MLCF 94.95 Increased By ▲ 0.31 (0.33%)
NBP 155.00 Increased By ▲ 0.76 (0.49%)
PAEL 43.69 Increased By ▲ 0.03 (0.07%)
PIAHCLA 19.79 Increased By ▲ 0.12 (0.61%)
PIBTL 11.30 Increased By ▲ 0.10 (0.89%)
POWER 15.20 Increased By ▲ 0.07 (0.46%)
PPL 179.40 Increased By ▲ 0.88 (0.49%)
PREMA 40.13 Decreased By ▼ -0.06 (-0.15%)
PRL 31.00 Increased By ▲ 0.02 (0.06%)
PTC 23.94 Increased By ▲ 0.04 (0.17%)
SNGP 116.95 Increased By ▲ 0.61 (0.52%)
SSGC 42.18 Decreased By ▼ -0.09 (-0.21%)
TELE 7.91 No Change ▼ 0.00 (0%)
TPLP 9.94 Decreased By ▼ -0.02 (-0.2%)
TREET 25.50 Increased By ▲ 0.84 (3.41%)
TRG 55.95 Increased By ▲ 0.28 (0.5%)
WTL 1.43 Increased By ▲ 0.01 (0.7%)
BML 4.94 Increased By ▲ 0.04 (0.82%)
BOP 14.65 Decreased By ▼ -0.06 (-0.41%)
CNERGY 7.04 Increased By ▲ 0.01 (0.14%)
CPHL 89.01 Decreased By ▼ -0.18 (-0.2%)
DCL 12.75 Increased By ▲ 0.04 (0.31%)
DGKC 186.15 Decreased By ▼ -0.30 (-0.16%)
FCCL 51.08 Increased By ▲ 0.03 (0.06%)
FFL 16.96 Increased By ▲ 0.02 (0.12%)
GCIL 28.00 Increased By ▲ 0.30 (1.08%)
HUBC 164.51 Increased By ▲ 3.20 (1.98%)
KEL 5.03 Increased By ▲ 0.02 (0.4%)
KOSM 6.94 Decreased By ▼ -0.13 (-1.84%)
LOTCHEM 21.40 Increased By ▲ 0.01 (0.05%)
MLCF 94.95 Increased By ▲ 0.31 (0.33%)
NBP 155.00 Increased By ▲ 0.76 (0.49%)
PAEL 43.69 Increased By ▲ 0.03 (0.07%)
PIAHCLA 19.79 Increased By ▲ 0.12 (0.61%)
PIBTL 11.30 Increased By ▲ 0.10 (0.89%)
POWER 15.20 Increased By ▲ 0.07 (0.46%)
PPL 179.40 Increased By ▲ 0.88 (0.49%)
PREMA 40.13 Decreased By ▼ -0.06 (-0.15%)
PRL 31.00 Increased By ▲ 0.02 (0.06%)
PTC 23.94 Increased By ▲ 0.04 (0.17%)
SNGP 116.95 Increased By ▲ 0.61 (0.52%)
SSGC 42.18 Decreased By ▼ -0.09 (-0.21%)
TELE 7.91 No Change ▼ 0.00 (0%)
TPLP 9.94 Decreased By ▼ -0.02 (-0.2%)
TREET 25.50 Increased By ▲ 0.84 (3.41%)
TRG 55.95 Increased By ▲ 0.28 (0.5%)
WTL 1.43 Increased By ▲ 0.01 (0.7%)
BR100 15,084 Increased By 25.4 (0.17%)
BR30 43,196 Increased By 264.9 (0.62%)
KSE100 148,724 Decreased By -91.1 (-0.06%)
KSE30 45,167 Decreased By -39.5 (-0.09%)

The Archbishop of Canterbury, spiritual leader of the world's Anglicans, weighed into Britain's debate over energy prices on Sunday, calling on companies to justify the latest rises and siding with cash-strapped families. Justin Welby, a former oil company executive who has taken on the corporate world several times since starting the job in January, said suppliers should be "conscious of their social obligations".
The rising cost of gas and electricity has dominated headlines since opposition leader Ed Miliband promised last month to freeze energy bills for 20 months if he wins the next election in 2015.
Prime Minister David Cameron, narrowly behind Labour in the polls, has rubbished the proposal as unworkable, but conceded Miliband had struck a chord with families struggling with a squeeze on wages, public spending cuts and high household bills.
"The impact on people, particularly on low incomes, is going to be really severe in this, and the companies have to justify fully what they are doing," Welby told the Mail on Sunday newspaper. "I do understand when people feel that this is inexplicable, and I can understand people being angry about it."
The rises have fed into a debate over competition in the energy market, acceptable levels of corporate profit and how the parties are going to address what Miliband calls a cost of living crisis across Britain. Energy supplier Centrica raised household electricity and gas prices last week by an average of 9.2 percent - more than three times the inflation rate. Its rival SSE announced an 8.2 percent rise earlier this month.

Copyright Reuters, 2013

Comments

Comments are closed.