Mr Kwarteng won’t be concerned directly at Monday’s talks with business representatives, consistent with BBC political correspondent Adam Fleming.

Business minister Lee Rowley can lead the meeting with business representatives later this afternoon, and has another meeting with steel bosses on Tues.

Is there an energy value cap for business?

Is the United Kingdom of Great Britain and Northern Ireland headed for a gas shortage this winter?

Adrian Curry, manager of UK-based Encirc, one among the biggest instrumentation glass plants in Europe, aforesaid business wasn’t posing for a bailout, however the case for a few corporations was crucial.

“We pay additional for our energy than competitors in different countries,” he told the BBC. He aforesaid his company would unremarkably pay £40m a year on energy, however was currently watching bills up to £100m.

“It’s quite unimaginable,” he said, adding that prices can need to be passed on to customers. And whereas there wasn’t threat to his company’s survival, it had been clear speech others in business that a lot of corporations area unit pain.

Some corporations area unit considering stopping production to chop prices, et al “are terribly on the point of the edge”.

Domestic energy customers have a definite quantity of protection from {rising values|inflation|economic process} because of a price cap, that sets the utmost value suppliers in European nation, Wales and Scotland will charge customers on a typical – or default – tariff.

However, the cap was inflated on one October, which means concerning fifteen million households face a twelve-tone music rise in energy bills.

Industry has no such cap, which means they’re hospitable the chance of a limiteless rise in costs.

Already makers and services area unit warning they’re going to need to die their rising prices to customers. And as energy prices area unit an enormous driver of inflation, few customers and households can escape the implications of this crisis.


Please enter your comment!
Please enter your name here