it protects and has protected millions of customers from sudden increases in global prices. this winter, we are committed to that price cap and it will remain in place. that means more small energy supplier is unable to turn a profit will likely go bust. the government says it s considering offering state backed loans to those that survive, but insists it will not be bailing out failed companies. jon donnison, bbc news. our political correspondent adam fleming is in westminster. let s discuss what the government is going to do to try to sort out the issuesit going to do to try to sort out the issues it is facing right now. good morning. firstly, on the energy companies who had to take on board the customers from smaller companies which have gone or are going to go bustin which have gone or are going to go bust in the midst of this crisis,
are behind a surge in wholesale gas prices. but after an emergency meeting with energy firms, the government, alongside the industry regulator ofgem, reiterated last night there would be no question of removing the cap that stops suppliers passing on those wholesale price rises to consumers. it protects and has protected millions of customers from sudden increases in global prices. this winter. we are committed to that price cap and it will remain in place. that means more small energy supplier is unable to turn a profit will likely go bust. the government says it s considering offering state backed loans to those that survive, but insists it will not be bailing out failed companies. john donnison, bbc news. let s get more on this now with nina. this sounds like bad news for the smaller energy firms but how will it affect consumers?
economy picks up, coupled with a reduced supply, are behind a surge in wholesale gas prices. but after an emergency meeting with energy firms, the government, alongside the industry regulator ofgem, reiterated last night there would be no question of removing the cap that stops suppliers passing on those wholesale price rises to consumers. it protects and has protected millions of customers from sudden increases in global prices. this winter, we are committed to that price cap and it will remain in place. that means more small energy suppliers unable to turn a profit will likely go bust. the government says it s considering offering state backed loans to those that survive, but insists it will not be bailing out failed companies. jon donnison, bbc news. our political correspondent
increases in global prices. this winter, we are committed to that price cap and it will remain in place. that means more small energy suppliers unable to turn a profit will likely go bust. the government says it s considering offering state backed loans to those that survive, but insists it will not be bailing out failed companies. jon donnison, bbc news. this morning, the business secretary, kwasi kwarteng, said that the government aren t looking to bail out energy suppliers which have to cease trading, but he was considering loans for the firms that take on their customers. any support for those larger companies will be in terms of working capital, will be a loan. it won t be just a grant, it won t be just a blank cheque, it ll be something where if we do have this facility, if we do have this policy, they will be expected to pay back the loans, whereas in the case of a bailout, that s what it is, it s just a bailout where you grant