Kwasi Kwarteng to meet energy leaders over energy price crisis
The government is to hold emergency meetings with the bosses of the UK’s biggest energy suppliers, after providers warned on Thursday of a “national crisis” that could see bills skyrocket more than 50% to £2,000 a year.
Kwasi Kwarteng, the business secretary, is to hold virtual meetings on Monday with energy suppliers, who are pushing the government to intervene to alleviate the unprecedented rises in consumers’ bills caused by soaring wholesale gas prices.
The energy industry believes the crisis, which has seen more than 26 energy suppliers go bust at a cost of £1.8bn to date, could be made more manageable if the government axed the 5% VAT on bills imposed when the UK was part of the European Union.
Other interventions the industry would like
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