U.K. vows to manage implications of soaring gas prices
CTV
Britain says it can deal with soaring gas prices and will protect customers, after some small energy providers went bust and meat producers said their industry was threatened by the knock-on impact.
Business minister Kwasi Kwarteng said he had been reassured that the security of gas supply was not a cause for immediate concern but he would work with providers to "manage the wider implications of the global gas price increase."
Kwarteng held emergency talks with executives from National Grid, Centrica, EDF and the regulator Ofgem on Saturday and is due to hold further discussions with industry figures on Sunday and Monday.
A jump in gas prices has already forced several domestic energy suppliers out of business and has shut fertilizer plants that also produce carbon dioxide, used to stun animals before slaughter and prolong the shelf-life of food.
Consumer groups and opposition politicians have warned that some customers and businesses will struggle to pay higher bills. The BBC reported that at least four small British energy companies were expected to go bust next week.
