Trade Secretary Kwasi Kwarteng has told Sky News that the price cap on consumers’ energy bills “will not be changed” this winter and is “convinced” that the UK will not suffer from gas shortages in the next months.
Speaking to the Trevor Phillips On Sunday show, Kwarteng said he was “convinced that we will have full power supply” despite high wholesale gas prices around the world, although he did not offer a full guarantee that there would not be interruptions.
“I’m as confident as I can be,” he said. “Because obviously this is a global problem, so we’ve seen real pressure on the supply chain around the world, they’ve seen the Chinese have power outages, they’re rationing supply.”
“Here in the UK our job is to make sure there is minimal disruption and I am very confident.”
Kwarteng also insisted that the huge increases in wholesale gas prices would not be fully carried over to households, as the maximum price of energy would remain unchanged this winter.
“I have been very clear about this. The price cap is the biggest shield in terms of consumer prices and I have said repeatedly that it will not budge,” he added.
“It was set in August for the six-month period between October 1 and April 1 and is not moving.
“Many companies during this period have said that we should raise the limit price or get rid of it.
“And I have made it very clear that it cannot be moved because it offers consumers the protection we all need against very, very high increases in price.”