Gas price cap will stay, amid fears of winter blackouts – follow live

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Alok Sharma says gas supply is safe

Energy companies and the government have agreed that energy price caps should “stay stable” during crisis talks to find a solution to record gas prices.

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Business Secretary Kwasi Quarteng held a crisis meeting with industry before the Commons Minister would not exclude energy firms and announced the energy price cap would “stay”.

In a joint statement issued late Monday, Mr Quarteng and Ofgame Chief Executive Jonathan Brearley confirmed that they have taken a unified position on the continuation of the price range.

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According to experts in the field, a cold winter could force Britain to restrict trade’s energy supply, shutting down factories in the three-day week of the 1970s.

According to academics and consultants who have advised the UK on energy security and market potential, UK gas storage will deplete within weeks if a severe winter in Europe leads to supply shortages.

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Supply shortages will most likely affect Britain in February and March: the worst months for storage levels in recent years, according to data collected by the National Grid, which has overseas energy infrastructure.

1632208902

UK risks blackout for industry if severe cold hits Europe

According to experts in the field, a cold winter could force Britain to restrict business’s energy supply, shutting down factories dating back to the three-day week of the 1970s.

According to academics and consultants who have advised the UK on energy security and market potential, UK gas storage will deplete within weeks if a severe winter in Europe leads to supply shortages.

Our Economics Editor Anna Isaac and business correspondent ben chapman The full story is:

UK risks energy blackout for industry if cold weather hits

Empty gas reserves will be quickly depleted if Britain and neighboring countries face extreme cold

chiara giordano21 September 2021 08:21
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Gas price cap will remain in place, Quarteng and Offgame insist

Energy companies and the government agreed that the energy price cap should “stay stable” during crisis talks to find a solution to record gas costs.

Business Secretary Quasi Quarteng held a crisis meeting with industry before announcing to the Commons that ministers would not exclude energy firms and that energy price caps would “stay”.

In a joint statement issued late Monday, Mr Quarteng and Ofgame Chief Executive Jonathan Brearley confirmed that they have taken a unified position on the continuation of the price range.

“At the heart of any next step is our clear and agreed position that the energy price cap will remain the same,” he said.

Mr Quarteng had previously told MPs that the limit saves 15 million households up to £100 a year, adding: “It’s not going anywhere.”

chiara giordano21 September 2021 08:16
1632208485

Good morning and welcome to our live coverage as gas prices hit record highs. We will keep bringing you the latest news and updates throughout the day.

chiara giordano21 September 2021 08:14


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