United Kingdom

UK gov. to meet British energy firms representatives amid gas prices hike

16:45, 18 September 2021
UK gov. to meet British energy firms representatives amid gas prices hike Photo: Denis Kogevnikov/Russian Look/Global Look Press

The UK government will have a meeting with representatives from Britain’s energy firms due to the concern of growths in gas prices could possibly lead to food and fuel shortages, according to Sky News.

Business Secretary Kwasi Kwarteng plans to have talks with senior executives from Ofgem, National Grid, Energy UK, Centrica, Octopus, Ovo, SSE, EDF, Scottish Power, Shell energy, E.ON, Bulb and SNG.

Kwarteng tweeted that there are no expectations of supply emergencies in winter.

It follows the reports that some companies that use gas for production have been closed amid a rapid increase in fuel price. The lack of carbon dioxide is reported to cause the suspensions in meat supply because the industry is in need of CO2 to slaughter animals.

There are also predictions that some people will be unable to afford heating of their homes in winter times due to the high cost of the service.

A spokesperson for the Business, Energy, and Industrial Strategy department said:

“The UK benefits from having access to highly diverse sources of gas supply to ensure households, business, and heavy industry get the energy they need at a fair price.”

A considerable hike in gas prices is believed to be connected with high global demand, maintenance issues, and lower solar and wind energy output. Ex-Ofgem chief said on BBC Radio 4 Today that the UK will probably meet the high energy costs for the rest of the year.

The gas prices hikes have also impacted fertilizer plants in Teesside and Cheshire, which produce carbon dioxide as a by-product, - plants have suspended their productions.