In contrast, in France, Germany, and the Netherlands, borrowing is mostly long term and at fixed interest rates.
One route around this blockage is for central banks to lend directly to firms by purchasing their short-term debt at fixed rates, as the Fed started to do this week.
Ofgem's proposals also include banning complex multi-tier tariffs, new personalised information to help consumers find their best deal, and ensuring customers default to the cheapest option at the end of fixed-term contract.
The data did show a return to personal consumption in China and a softening of fixed asset investment at least in the near term across the manufacturing, infrastructure and property sectors.
FORBES: Barclays Calls China's Recent Data Dump 'Unexciting'
It comes about because the Federal Reserve System, in its so far failed effort to stimulate the economy, has fixed the short-term interest rate at 0%.
But as Paul Abberley, head of fixed income at Aviva Investors, points out, in the short term the risk appears to be deflation.
"Suntech's default may impact market sentiment in the short term, " said Bryan Collins, fixed-income portfolio manager at Fidelity Worldwide Investment.
Many fixed-term deals have small print allowing firms to put up their prices, with at least 30 days' notice.
The power is linked to the coalition government's plans to introduce five-year fixed term parliaments, under which the prime minister would lose the power to dissolve parliament at a time of his or her choosing.
At least three months notice must be given to customers following any decision to end the guarantee, and fixed term accounts will retain the guarantee for the term of the product.
Mr Thomas said, with fixed term parliaments planned, there was no reason not to push for limits on annual expenditure at a national level - rather than simply in the run-up to an election.
BBC: Michael Farmer and Stuart Wheeler on donors & influence
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