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high energy bills (POVERTY (Complexity of switching (makes the vulnerable…
high energy bills
POVERTY
High % of income
Complexity of switching
makes the vulnerable more D inelastic
The old are at home more
Winter fuel payments
Fuel poverty
uncompetitive in trade
Unemployment
VOLATILE PRICES
inelastic supply
Inelastic demand
Supply shocks
Oil supplies in unstable region
renewables reducing volatility?
Recession
Demand shock
INFLATION
Energy bills directly in the basket
Higher industry costs
May reduce spending on other products
May reduce savings and boost AD
ENVIRONMENT
Exercise
Reduces use
Limits emissions
Explore new areas
Arctic damage etc
or wear more clothes
Other markets boosted
OLIGOPOLY
Big 6 providers
collusion evident?
Price discrimination
supernormal profits
CMA regulatory capture ?
Low contestability?
INTERNATIONAL TRADE
May add to business cost s
Relatively cheaper imports
More imports
Current account deficit
Exports dearer
Reduced exports
Current account deficit
Industry moves abroad
Fewer exports
Investment in renewables
Long term less dependent on imports