'Despite some pushing me to lift the cap, I am absolutely clear it is here to stay and will remain at the same level throughout winter,' the business secretary writes in the Sunday Express.
said keeping the cap in place is"non-negotiable" and did not set out any additional support for struggling businesses after some company bosses and some Tory MPs called for help to prevent industries grinding to a halt.Mr Kwarteng sought to reassure the public of"the safety net that we have in place to shield consumers from instant price hikes this Christmas, and ensure everyone gets the supply they need".
"Despite some pushing me to lift the cap, I am absolutely clear it is here to stay and will remain at the same level throughout winter," he wrote in the Sunday Express.Please use Chrome browser for a more accessible video playerSome energy firms have said the cap is not"fit for purpose" and called for reforms and emergency support to prevent collapses, which will also burden costs on the taxpayer.
Proposing reforms including inspecting the cap four times a year, Utilita Energy's non-executive chairman Derek Lickorish said:"The cap is not fit for purpose.
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