Negotiations continue over the UK’s “energy crisis”

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UK Minister for Business, Energy, and Industrial Strategy Kwasi Kwarteng and representatives from the energy sector continue their talks to find a solution to the crisis caused by high energy prices.

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The official BBC reported that the two parties will meet again today after Minister Kwarteng’s emergency meeting with energy sector representatives on Friday 8 October in London.

In a statement issued by the British Treasury, it rejected press allegations that “Kwarteng and Finance Minister Rishi Sunak held a comprehensive meeting on the incentives that can be provided to the energy sector.”

In a statement issued last week by the umbrella organization representing companies whose production is heavily dependent on energy in the UK.

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It was stated that after the sharp increase in natural gas prices the British government should step in and help these companies which are vital to the economy.

In the statement from research firm Cornwall Insight, it was noted that the upper limit for energy bills set by British inspection company Ofgem could increase by about 30 percent in April 2022.

Kwasi Kwarteng, the British Minister for Business, Energy, and Industrial Strategy, had previously promised to solve the country’s high prices crisis due to insufficient supply in the face of the increasing demand for natural gas.

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Kwarteng noted that credit support for large-scale energy companies cannot fully reflect higher natural gas prices to consumers due to the application of price caps.