Business

Gas supply this winter ‘not a cause for immediate concern’, says business secretary

Gas supply this winter is “not a cause for immediate concern”, the UK’s business secretary has reassured, following reports that a spike in prices could threaten food production and other industries.

Kwasi Kwarteng posted a series of tweets after holding meetings with senior executives from the energy industry to discuss the impact of high global gas prices on Saturday.

It followed reports that some companies which use gas in the production of products have shut down due to the high price of the fuel, and amid concerns that some people will be unable to afford the high cost of heating their homes over winter.

“I was reassured that security of supply was not a cause for immediate concern within the industry,” Mr Kwarteng said after his talks.

“The UK benefits from having a diverse range of gas supply sources, with sufficient capacity to more than meet demand. The UK’s gas system continues to operate reliably and we do not expect supply emergencies this winter.”

While some energy firms are “facing pressure”, he said, industry regulator Ofgem has “robust measures in place to ensure that customers do not need to worry, their needs are met, and their gas and electricity supply will continue uninterrupted if a supplier fails”.

Mr Kwarteng said he would be holding further talks with Ofgem on Sunday.

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