In contrast, in France, Germany, and the Netherlands, borrowing is mostly long term and at fixed interest rates.

ECONOMIST: Can one size fit all?

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.

ECONOMIST: Policy in a recession

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.

BBC: Energy bills: Ofgem sets out plan for simpler tariffs