The weather may be on their side, says Energy Secretary

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The weather may be on their side, says Energy Secretary

This can include adverts from 3rd parties and our understanding based on our understanding. During a meeting with the energy companies this week, Business secretary Kwasi Kwarteng used internal data provided by the Met Office, which his department provides, to reassure industry leaders that the weather may be on their side. Earlier this month the price cap on renewable energy had become so much stricter that the average unit of charge went up by 139 to push production prices up to 1,277. Analysts even predicted another rise of 400 when it is next reviewed in April. Energy companies are also heavily affected by the spike in wholesale prices with nine suppliers who have gone bust. Another four are said to be in line to go out of business.

To comfort the industry, Mr Kwarteng used a Met Office briefing that said that for the late winter period from January to February 2022, the most likely scenario is for an unsettled period of wet, windy and mild spells. The official who attended the meeting told The Telegraph: Energy suppliers asked whether we had weather insights over the winter period, and the Business Secretary shared the most recent Met Office forecast. Whatever happens, the energy price cap will remain in place to protect consumers from high global gas prices. Why was the gas price crisis a big problem in North Dakota?