Talk denied with Kwasi Kwarteng over energy crisis: According to reports, the Treasury has rejected any conversations with Business and Energy Secretary Kwasi Kwarteng regarding potential help for energy-intensive sectors in order to address the energy issue.
Mr Kwarteng stated on the BBC’s Andrew Marr Show that he was “working very closely” with Chancellor Rishi Sunak “to get us through this issue,” alluding to winter assistance for the sector and assistance for companies dealing with high energy bills.
“What I’m very clear about is we need to help them get through this situation. It’s a difficult situation, gas prices, electricity prices are at very high levels right across the world and of course, I’m speaking to government colleagues, particularly in the Treasury, to try and see a way through this.” he told Sky News, in addition.
However, according to sources, the Treasury Department rejected any conversations concerning assistance.
When asked if the government would provide additional assistance to energy-intensive industries such as steel, cement, and chemicals, the business and energy secretary told Andrew Marr he was “looking to find a solution,” adding, “We already have existing support and we’re looking to see what’s sufficient to get us through this situation.”
He, however, rejected allegations that he requested “billions” of pounds in subsidies.
The announcement comes following a meeting on Friday with leaders from energy-intensive industries like as steel, cement, and chemicals to discuss rising worldwide gas prices, after certain businesses warned that enterprises may be forced to shut down operations.
Mr Kwarteng described the situation as “serious” and stated that he is “listening and trying to figure out a path ahead.”
“I think it’s a challenging situation but as I’ve always said, the energy supply is not an issue. We’ve got security of supply, we’ve got flowing sources of gas and electricity. We’ve got diversity in terms of our electricity generation mix, we’ve got nuclear, we’ve got renewables, we’ve got gas and through that mix, I think we’ve got a great deal of resilience.” He added
He stated that he has spoken with Ofgem, and that they are looking at ways in which the system may be susceptible, but that they are also “increasingly convinced that what we have today can take us through the winter.”
“I’ve been very clear that we’re not going to bail out failing energy suppliers. Typically, as I’ve said before, between five and eight companies leave the market every winter.” added the business secretary.
Talk denied with Kwasi Kwarteng over energy crisis: