BoE to act as lender of last resort to UK energy firms

Bank of England
Daniel Hinge

The Bank of England will become a lender of last resort to UK energy firms, as part of the government’s response to energy market volatility.

Under the scheme, operated jointly with the UK Treasury, the BoE will offer short-term liquidity to energy firms. The scheme is designed to help suppliers cope with intense volatility in wholesale energy markets.

In a statement, the central bank said the measures were designed to be a “last resort” and would be “structured and priced accordingly”.

The

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