TokyoTokyo Mon - Fri 10:00-18:00 +81 (368) 662-975
info@mountequitygroup.com

UK has plans to protect consumers from soaring gas prices -business minister

Mount Equity Group Tokyo, Japan > News > Business > UK has plans to protect consumers from soaring gas prices -business minister

Britain’s Alok Sharma, president of this year’s United Nations COP26 walks outside Downing Street in London, Britain, September 15, 2021. REUTERS/Hannah McKay/Files

LONDON, Sept 19 (Reuters) – Britain has plans in place to protect the market and consumers from soaring global gas prices, business minister Kwasi Kwarteng said on Sunday following a meeting with the head of energy regulator Ofgem.

A jump in gas prices has already forced several domestic energy suppliers out of business and has shut fertiliser plants that also produce carbon dioxide, used to stun animals before slaughter and prolong the shelf-life of food.

“If a supplier fails, Ofgem will ensure customers’ gas and electricity supply will continue uninterrupted,” Kwarteng said on Twitter.

“If a supplier of last resort is not possible, a special administrator would be appointed by Ofgem and the Govt. The objective is to continue supply to customers until the company can be…

Read more…