ENERGY PRICE CAP: The price of wholesale gas has skyrocketed which could cause empty supermarket shelves
The price of wholesale gas has skyrocketed - with the energy price cap set to stay in place - could this mean empty supermarket shelves?
Business secretary Kwasi Kwarteng and regulators Ofgem have met with energy suppliers and decided the price cap on the cost of energy will remain in place. The meeting was held in the wake of wholesale gas prices increasing by two hundred and fifty percent since January. But the news comes with a warning more energy companies could go bust as a result.
The Business Secretary said he hoped to have a "very clear plan" to get CO2 production back up and running this week. Kwasi Kwarteng told Sky News he was "confident" of a resolution after crisis talks saw a decision not to scrap the energy bill cap for consumers.
While the government has ruled out rising the bill cap for now, the same can't be promised for when next April rolls around.
Many are concerned about what a bill increase would mean for them.
And for lower income families, it could be even worse
The price hikes are causing a knock on effect which could see supermarket stock shortages - farmers like Kate explain why it is devastating for them.
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