Many constituents have contacted me worried about gas supplies and the cost of gas in the months ahead. I know there are concerns that Britain is about to run out of gas. This is not the case. This is a problem of global demand rapidly increasing, leading to higher wholesale prices. Britain has a diverse range of gas supplies around the world and we have more than sufficient capacity to meet winter demand.
Protecting gas consumers is a government priority:
- If an energy supplier fails then there is a clear process where the energy regulator, Ofgem appoints another supplier to take on customer accounts. Ofgem does this automatically on behalf of affected customers.
- Failed energy companies will not be bailed out by the government. The taxpayer should not pay to prop-up failed companies with poor business models unable to withstand fluctuations in energy prices.
- Customers must be protected from price spikes. The Energy Price Cap remains in place, saving 15 million households up to £100 a year.
- The Warm Home Discount, Winter Fuel Payments and Cold Weather Payments will continue supporting millions of vulnerable and low-income households with their energy bills.