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The government’s goal is clear: achieve stable prices by removing gas from the grid. Britain’s electricity market uses a marginal pricing system, which means that the price paid for all electricity at any moment is set by the most expensive source needed to meet demand. Even though gas produces only about a quarter of our electricity, it sets the price around 85% of the time. That means even when renewables are generating most of the country’s power, your bill doesn’t reflect the cost of solar or wind. And because gas is a global commodity with the price set by the international market, the closing of the Strait of Hormuz translates into rising electricity bills in Hull – even as the horizon grows thick with wind turbines and the share of clean power on the grid grows every year.
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The Trump administration has repeatedly said American forces have all of the weapons they need to fight the Iran war, now in its second week. President Donald Trump posted Friday on social media that several defense contractors had agreed to quadruple production of weapons “as rapidly as possible,” although he did not detail the specific systems being manufactured.