Yesterday the Prime Minister, Chancellor Nadhim Zahawi and Business and Energy Secretary Kwasi Kwarteng met industry leaders from the electricity sector to discuss what more they can do to help people struggling with rising energy prices.
The Chancellor and energy firms agreed to work closely over the coming weeks to ensure that the public, including vulnerable customers, are supported as unprecedented global events drive higher energy costs.
Government support worth £37 billion is being provided this year to help people with the rising cost of living, including £1,200 for the most vulnerable households over the course of the year and £400 discounted off everyone’s energy bills from October.
As set out in the Energy Security Strategy, the Government has launched a consultation to drive forward market reforms and ensure the market works better for consumers. Discussion focussed on how Government and industry can collectively drive forward reforms to ensure the market delivers lower prices.
Following the roundtable with electricity generators, the Prime Minister confirmed the Government will keep urging these businesses to continue working on ways it can ease the cost of living pressures, looking at further options to support families and to invest further and faster in British energy security.