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Plans in place to protect consumers from soaring gas prices - UK business minister

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By Reuters
Plans in place to protect consumers from soaring gas prices - UK business minister
Plans in place to protect consumers from soaring gas prices - UK business minister   -   Copyright  Thomson Reuters 2021

LONDON – British business minister Kwasi Kwarteng said on Sunday that the head of energy regulator Ofgem had assured him of the plans in place to protect the market and consumers from soaring gas prices.

Kwarteng said that if an energy supplier failed, as several small suppliers have done in recent weeks, Ofgem would ensure customers’ gas and electricity supply continued uninterrupted.

“If a supplier of last resort is not possible, a special administrator would be appointed by Ofgem and the Govt,” he said on Twitter. “The objective is to continue supply to customers until the company can be rescued or customers moved to new suppliers.”