Plans in place to protect consumers from soaring gas prices – UK business minister

© Reuters. FILE PHOTO: Britain’s Secretary of State for Business, Energy and Industrial Strategy Kwasi Kwarteng walks outside Downing Street in London, Britain, September 15, 2021. REUTERS/Toby Melville

LONDON (Reuters) – British business minister Kwasi Kwarteng said on Sunday that the head of energy regulator Ofgem had assured him of the plans in place to protect the market and consumers from soaring gas prices.

Kwarteng said that if an energy supplier failed, as several small suppliers have done in recent weeks, Ofgem would ensure customers’ gas and electricity supply continued uninterrupted.

“If a supplier of last resort is not possible, a special administrator would be appointed by Ofgem and the Govt,” he said on Twitter (NYSE:). “The objective is to continue supply to customers until the company can be rescued or customers moved to new suppliers.”

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