Energy industry executives met with the Business and Energy Secretary, Kwasi Kwarteng, last week to discuss the impact of continued high gas prices.
The Secretary of State stressed that energy security was an absolute priority for government, which was confident it can be maintained under a wide range of scenarios. “Great Britain also benefits from a diverse electricity mix, which is one of the reasons why we have one of the most reliable electricity systems in the world,” a statement added.
It follows steep rises in wholesale gas prices since the turn of the year – with further talks and calls for extra funding this week too.
A BEIS statement added: “Ofgem has robust measures in place to ensure that customers do not need to worry, their needs are met, and their gas and electricity supply will continue uninterrupted if a supplier fails. If the appointment of a Supplier of Last Resort is not possible, Ofgem and the government have agreed processes in place to appoint a special administrator to temporarily run the business until such time as a new supplier can be found for the customers.”