I KNOW it must have been worrying for people to hear reports this week of high global gas prices, particularly as the days get shorter and colder nights start to draw in.
But I want to reassure everyone that they will always have power – thanks to the UK’s strong, diverse gas supply – even if their energy supplier goes out of business.
Everyone will always have power thanks to UK’s strong gas supply, says Kwasi Kwarteng[/caption]
It isn’t unusual for suppliers to exit the market, as they do every year.
Though we may see more in the coming weeks, we have a clear, well-rehearsed process in place to make sure customers are protected if that happens.
If a supplier fails, Ofgem – the energy regulator – moves its customers to a new one, and there’s no disruption to their supply.
That safety net works and has done its job several times this year already – as it always has done.
I want to thank suppliers who’ve taken on new customers, and consumers who’ve followed our advice, sat tight and remained calm.
As I’ve said throughout this week, protecting the consumer is my priority.
That’s why I’m clear that the Energy Price Cap – which still saves 15 million people up to £100 a year – isn’t going anywhere.
Most read in The Sun
It is currently protecting people from sky-high energy prices, and, for me, keeping it in place is a red line.
Our plan is simple: consumers come first; the Cap stays.
As we respond to this global issue, I want to assure Sun on Sunday readers that Government will continue to work tirelessly alongside industry to protect customers.
The Business Secretary vows the Government will continue to work tirelessly alongside industry to protect customers[/caption]