the same time, the rest of the world turn to gas and the russians turned down supplies to europe by 25%. and we have a chronic shortage of storage. these are factors. some of them will unpick themselves, but the underlying problem is that we are utterly dependent on the rest of the world from where we get our energy, and we have to change that. has a small energy and we have to change that. has a small energy supplier, and we have to change that. has a small energy supplier, what - and we have to change that. has a small energy supplier, what will . small energy supplier, what will happen, when it comes to being competitive within the market? statistics say that we started at 70 energy supplies at the start of this year. by winter, they will only be time left. get casinos projections, and i don t have that true. we can see six or seven small energy companies in the pipe about to go bankrupt right now. there are fundamental problems here. the price cap that has been imposed on the s
not a fixed rate, then the government introduces this price cap set by the energy regulator. it is the level above which the average bill cannot go up. it is calculated and applied in october and april. so it is going to go up next month to in reflect the increase in wholesale gas prices. it will probably go up against bamako again next april because we are living through another period of increased gas prices. a lot of people s bills will go prices. a lot of people s bills will 9° up prices. a lot of people s bills will go up irrespective of whether they have moved supplier because their existing companies bust. t have moved supplier because their existing companies bust. existing companies bust. i have followed some existing companies bust. i have followed some questions - existing companies bust. i have| followed some questions people existing companies bust. i have - followed some questions people have come up with. people asking what will happen to their debt and credit. peopl
incentivise governments to do that. ministers are now not skin wanting to do that. they seen this system working, and they think it s pretty robust. the business minister explained why they are thinking that way. what we re not going to do, is we re not going to bail out companies. we re not going to bail out companies that haven t got a business model that can be sustained. but what we are interested in doing is protecting consumers. we want to make sure that they have continuity of supply, we want to make sure that we can keep their prices as keen as possible. we doing that through the price cap, through the warm homes discount, and through cold weather payments as well. i quickly, you ve mentioned the price cap. remind us what it isn t what it willjump to. if price cap. remind us what it isn t what it willjump to. what it will “ump to. if you are in a variable what it willjump to. if you are in a variable rate what it willjump to. if you are in a variable rate tariff, what
hello, good morning and welcome to bbc news, thanks forjoining us this morning. the government warns more energy companies could go bust in the weeks ahead, labour accuses ministers of leaving the country dangerously exposed . 0fgem fears almost one and a half million customers facing a switch to new suppliers and more expensive bills. two companies, avro energy and green, with more than 800,000 customers between them, ceased trading yesterday, after the price of wholesale gas soared to unprecedented levels. ramzan karmali reports. soaring gas prices have led to the collapse of two more energy suppliers, meaning six firms have gone bust in september alone and left 1.5 million customers facing higher bills. those customers will still receive energy while a new supplier is appointed by 0fgem.
not going to bail out companies. we are not going to bail out companies that haven t got a business model that can t be sustained. what we are interested in doing is protecting consumers. and if you re one of the people affected by the collapse of your energy provider and would like to share your experience or concerns we d like to hear from you. do get in touch on twitter @lukwesaburak or by using the hashtag #bbcyourquestions. also in today s news. police investigating the murder of 28 year old primary school teacher sabina nessa in south london release details of her last movements tenants are being evicted due to rent arrears built up during the pandemic, an investigation finds. that s despite a government commitment that the crisis would not leave anyone without a home. hairdressers express concern of clients having new allergic reactions to hair dye after contracting coronavirus.