Ten Things You Need to Know Today: 24 August 2022

The Week’s daily digest of the news agenda, published at 8am

1. Energy boss ‘proposes £2k cap’

An energy giant has told ministers that a rescue plan to protect households from rising bills will need funding of more than £100bn over two years. Keith Anderson, chief executive of Scottish Power, reportedly proposed capping household energy bills at about £2,000 a year during a meeting with business secretary Kwasi Kwarteng. Suppliers would bridge the gap between the cap and the wholesale price of gas and electricity by borrowing from a “deficit fund” arranged by the government through commercial banks, explained the FT.

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