Energy price cap ‘will not be moved’ and business sec ‘convinced’ UK won’t suffer gas shortage

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Business Secretary Kwasi Kwarteng has told Sky News that the price cap on consumers' energy bills "will not be moved" this winter and he is "convinced" that the UK won't suffer gas shortages in the coming months.

Speaking to the Trevor Phillips On Sunday show, Mr Kwarteng said he was "convinced we will have full energy supply" despite soaring wholesale gas prices around the world.

And he inisisted huge price hikes would not be wholly passed onto consumers as the energy price cap would remain in place.

"I've been very clear about this. The price cap is the biggest shield in terms of consumer prices and I've said repeatedly that it will not be moved," Mr Kwarteng said.

"It was set in August for the six-month period between 1 October and 1 April and it's not being moved.

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"Many companies during this period have said we should lift the price cap or get rid of it.

"And I've been very clear that it can't be moved because it does offer consumers the protection we all need against very, very high upswings in the price."

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