Mark Carney also criticised "far-right populists" and Brexiteers for having a "basic misunderstanding of what drives economies". Ms Truss, who became the shortest-serving prime minister in history when she resigned last year, has defended her policies since leaving office.
France’s energy mix contains significantly less gas, when compared to the UK. They barely use any for electricity generation, see below, compared to the UK where gas is ~40% of our annual mix.
http://gridwatch.templar.co.uk/france/ https://www.mygridgb.co.uk/historicaldata/
That is why France was better insulated from a supply side gas shock.
It does help if you know what you are talking about.
As I said, the UK, along with the Netherlands and Belgium chose to let the energy shock into the economy and ameliorate with policy.
Other countries chose price caps to keep the energy shock out of the economy
https://www.bbc.co.uk/news/61522123
And EDF were able to cap prices at 4% because of their nuclear infrastructure which meant the cost of subsidising that 4% cap was considerably less than the equivalent would have been in the UK.
As always, context is important.
And Spain? And all the other price caps?
It’s almost like you’re not comprehending what I’m saying
https://app.electricitymaps.com/zone/ES
Spain uses a lot of gas, and prices have increased substantially. Between 2017 and 2019 the price per MWh hovered around €50, in 2020 it fell to €34. In 2021 it jumped to €112, and 2022 to €167.
The government started removing excess profits in 2021 - see here - and more recently are also subsidising the cost to generators where needed, see here. This was at the peak of Spain’s inflation, which reached 10% and then fell back to a more typical level, see here.
They have not been able to isolate themselves the same way France have, and are in a situation much closer to the UK with regards to reliance on gas, but through better economic management within Spain and across the eurozone now have lower inflation.
Edit: speeeeling.
Thanks for the random facts, what’s your point?
That context is important and ignoring it means you keep making easily falsifiable claims, like saying the energy crisis didn’t impact other countries. I have now both shown, and explained to, you why that is wrong, and so my work here is done.
Lol, I didn’t say that though.
I said the UK, Netherlands and Belgium let the energy shock into the economy whilst other countries used price caps to keep it out.
I then provided a source that detailed the approach on a country by country basis
You then started quoting random stuff about Spain and France