The Government will continue to engage with energy intensive industries affected by the global gas spike. At the same time, the Government will continue to protect consumers with our Energy Price Cap and ensure that everyone will get the gas supply they need over the winter months.
Rising global gas prices are understandably causing anxiety, but thanks to our safety net – the Energy Price Cap – people will be protected. Our Energy Price Cap will remain at the same level this winter, particularly protecting those on lower incomes. We are confident in our energy supply, and we benefit from both resilient gas supplies from British waters and a diverse renewables and nuclear sector.
Labour’s reliance on cheap foreign natural gas made the UK’s energy sector exposed to volatile gas prices. The Government has already worked hard to turn this around quadrupling the amount of renewables and the first new nuclear power station in a generation.
To view the Secretary of State for Business, Energy and Industrial Strategy’s comments on the Government’s approach to protecting customers and securing our energy supplies now and well into the future, please visit: https://www.express.co.uk/comment/expresscomment/1503488/energy-price-cap-gas-prices-crisis-kwasi-kwarteng.