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Price Cap

All articles tagged with #price cap

politics1 month ago

Collins-backed insulin price cap advances in GOP-led committee

The Republican-led Senate Health Committee voted 17-5 to advance the INSULIN Act, which would cap private-insurance insulin costs at $35 per month, with six Republicans joining Democrats in support and chair Bill Cassidy opposing. A Baldwin amendment to include uninsured patients was added and then stripped. While a House companion would be needed for passage, the measure would create the first nationwide cap on private-plan out-of-pocket costs for a non-preventive drug; however, the real impact may be limited since many insurers already cap at $35 and Medicare already has a $35 cap.

via Politico|
#collins#health-care-costs#insulin
California's Expanded EV Rebate Covers 13 Automakers, with Price Cap Exemptions
technology1 month ago

California's Expanded EV Rebate Covers 13 Automakers, with Price Cap Exemptions

California's revamped EV rebate offers up to $3,500 for qualifying new EVs under $50k and $1,750 for used EVs under $25k, but only for 13 automakers; Lucid and Rivian are exempt from the price cap thanks to a California carve-out, while brands like Mercedes, BMW, VW, and others have no eligible models, and details on the used-vehicle rebate funding remain unclear.

via InsideEVs|
#california#ev-rebate#lucid
PJM capacity auction hits price cap as data-center demand widens reserve shortfall
regulation-and-policy1 month ago

PJM capacity auction hits price cap as data-center demand widens reserve shortfall

PJM’s 2028-2029 capacity auction cleared at the $325/MW-day price cap, leaving about a 6.8 GW shortfall versus its 20% installed reserve margin (up from 6.5 GW), with only roughly 525 MW of new resources and nearly 2 GW of additional forecast demand driven by data centers. The grid operator plans a backstop capacity auction and a ‘connect and manage’ framework for data centers, with a filing due this month for a September auction. Without the cap, clearing prices would have run about $555/MW-day across PJM and $777/MW-day in the ComEd zone, implying about $29.7B in potential costs versus the actual $16.4B spent. Demand response fell by about 277 MW, and while ratepayers may see little bill change in 2028, large industrial customers could face sharply higher capacity charges. Analysts expect reforms to lower prices and address resource adequacy, while stakeholders debate data-center costs and permitting barriers.

via Utility Dive|
#capacity-auction#data-centers#pjm
UK presses voluntary staple-price caps in exchange for deregulation
business3 months ago

UK presses voluntary staple-price caps in exchange for deregulation

The government is reportedly pressing supermarkets to voluntarily cap prices on staples (eggs, bread, milk) in return for deregulation, including eased packaging rules and delaying healthy-food rule changes; the plan has drawn criticism from retailers and industry groups, while Scotland's SNP pursues a similar policy and full details are awaited from the Treasury.

via BBC|
#business#groceries#price-cap
Bipartisan Deal Seeks $35 Insulin Cap With Uninsured Pilot
politics5 months ago

Bipartisan Deal Seeks $35 Insulin Cap With Uninsured Pilot

A bipartisan group of senators led by Jeanne Shaheen announced a deal to cap the price of insulin at $35 per month, including a pilot program in 10 states for the uninsured and changes to rebate programs for pharmacy benefit managers; the plan would be attached to other must-pass legislation, and still requires buy-in from Senate leadership and the president to move forward.

via Semafor|
#bipartisan#healthcare-policy#insulin
Sanctions squeeze Russia's oil revenue, tightening the budget amid a slowing war economy
world6 months ago

Sanctions squeeze Russia's oil revenue, tightening the budget amid a slowing war economy

Western sanctions and EU bans on Russian oil refined products have cut Russia's January oil and gas tax revenue to 393 billion rubles—the lowest since COVID—pushing Moscow to borrow from banks and raise taxes as growth stalls. A price cap, a growing shadow fleet of sanctioned tankers, and reduced demand from buyers like India keep revenues volatile, while Urals sell at a deep discount to Brent. Moscow relies on reserves and higher taxes (VAT up to 22%) to prop up the budget, but inflation risk grows as growth slows (Q3 GDP 0.1%, forecasts 0.6–0.9% this year).

via AP News|
#budget#oil-revenue#price-cap
Empire State Moves to Cap Concert Ticket Resales
business6 months ago

Empire State Moves to Cap Concert Ticket Resales

New York state Senator James Skoufis plans amendments to cap resale prices at the original ticket price (including fees and taxes), set fee limits, and outlaw speculative ticketing, with enforcement details still undetermined. The move mirrors California’s recent actions and signals potential upheaval for the live‑music industry, pitting fans’ access against market dynamics and major players like Live Nation/Ticketmaster who are watching for guardrails if the bill passes.

via The Hollywood Reporter|
#business#live-nation#new-york-legislation
California Moves to Limit Resale Ticket Markups to 10%
politics6 months ago

California Moves to Limit Resale Ticket Markups to 10%

California Assemblyman Matt Haney introduced AB 1720, the California Fans First Act, to cap resale concert tickets at no more than 10% over face value (excluding sports), aiming to curb bots and brokers and keep tickets affordable; the bill is backed by NIVA CA and Music Artists Coalition and would complement AB 1349 addressing speculative ticketing and deceptive resale sites. Maine has already enacted a similar cap, and other states are pursuing similar measures, signaling a broader push to reform the resale market.

via Billboard|
#ab-1720#california#live-music
Sanctions Pinch Russia's Oil Revenue as Buyers Grow Wary
world6 months ago

Sanctions Pinch Russia's Oil Revenue as Buyers Grow Wary

Western sanctions, including the global price cap and US secondary sanctions, are dragging down Russia’s oil rents as Urals crude trades at deep discounts and a growing share of output stays in transit; analysts note a roughly 20% drop in oil and gas revenue last year, with Moscow relying on asset sales and higher domestic taxes to fill the gap, while Putin shows little sign of curtailing the war.

via France 24|
#oil#price-cap#russia
"Analysis: Impact of Price Cap on Russian Oil Revenue and Calls to Halt Militarization Funding"
international-relations-energy-policy2 years ago

"Analysis: Impact of Price Cap on Russian Oil Revenue and Calls to Halt Militarization Funding"

Two years after Putin's invasion of Ukraine, the US and an international Coalition have implemented a price cap on Russian oil to limit Kremlin profits while maintaining stable energy markets. The second phase of the price cap aims to tighten enforcement and increase costs for Russia, resulting in a significant decline in the price at which Russia sells its oil and a stable supply of energy to global consumers. The Coalition's efforts have led to a marked increase in the discount on Russian oil, reducing Putin's profits while maintaining market stability. The price cap's impact on Russian revenues and exports is being closely monitored, and the Coalition remains committed to further reducing Kremlin profits.

via Treasury|
#global-economy#international-relations-energy-policy#oil
"U.S. Sanctions Prompt Tanker U-Turn, Russia's Shadow Fleet in Tight Spot"
international-relations-sanctions2 years ago

"U.S. Sanctions Prompt Tanker U-Turn, Russia's Shadow Fleet in Tight Spot"

The U.S. Treasury Department listed a tanker, NS Leader, for repeatedly violating the $60 price cap on Russian crude oil and making port calls in Russia, prompting the tanker to change its course. The tanker is managed by UAE-based Oil Tankers SCF Mgmt FZCO, which is linked to the Russian government through Sovcomflot. The enforcement efforts have caused disruptions in the flow of Russian oil, with Greek tanker operators and oil deliveries to India being affected.

via The Maritime Executive|
#international-relations-sanctions#international-trade#oil-tankers
Russia's Oil Revenues Soar, Surpassing Pre-War Levels
economy2 years ago

Russia's Oil Revenues Soar, Surpassing Pre-War Levels

Russia's monthly income from oil exports has surpassed pre-war levels, generating $11 billion in the year since G7 countries imposed a price cap on Russian oil. Moscow has rerouted its oil exports to China and India, exporting almost 3.5 million barrels per day in 2023. Net oil revenues have almost doubled between April and October, making up 31% of the country's total net budget revenue for that month. Anonymous traders and unknown shipping companies have handled about $11 billion of Russia's petrodollars. The US Treasury has sanctioned eight oil tankers for price cap violations, and inquiries have been made about potential breaches with around 100 ships. Russia is expected to use the extra proceeds from oil and gas sales to cover its budget deficit.

via The Moscow Times|
#budget-revenue#economy#g7
The Ineffectiveness of Russia's Price Cap: A Costly Failure
energy2 years ago

The Ineffectiveness of Russia's Price Cap: A Costly Failure

A report by the Centre for Research on Energy and Clean Air (CREA) states that the G7 price cap on Russian crude oil has fallen short of its potential. The price cap, which allows Russian crude shipments to use Western insurance and financing if sold below $60 per barrel, has cost Russia an estimated $36.8 billion in export revenue. The sanctions have reduced Russia's oil export earnings by 14%, but a failure to enforce and consistently monitor the price cap has allowed Russia to undo the impact in the second half of the year. The U.S. has recently sanctioned vessels and their owners for violations related to the price cap.

via OilPrice.com|
#energy#export-revenue#g7