By Kate Holden
LONDON (Reuters) – The UK said on Saturday it could handle rising gas prices and protect consumers after some small energy providers went bankrupt and meat producers were indirectly threatened by the industry.
Commerce Minister Quasi said after meeting Quarteng executives National Phase (Lone :), Dr Centrica (LON :), EDF (PA 🙂 and the Regulator assured that there was no reason for Offchem to deliver immediately.
He promised to work with the industry to manage the problem.
Rising energy prices have already forced many domestic energy suppliers to close their doors and shut down fertilizer factories that produce carbon dioxide, which is staggering before killing meat.
Consumer groups and political opponents have warned that some consumers and businesses will struggle to pay higher bills.
Quarten said protecting consumers at a time of high prices is an absolute priority.
“Some energy companies are under pressure,” the minister said on Twitter. “Customers do not have to worry. Offjem has strong measures in place to ensure that their needs are met and that their gas and electricity will continue uninterrupted if a supplier fails.”
He said he would continue to meet the industry on Sundays and Mondays to discuss what more could be done when there are multiple energy supplies in the country.
Quarteng added that UK exposure to global gas prices underscores the need to create more domestic renewable options. “Renewable energy has quadrupled since 2010, but there is still a lot to do,” he said.
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