Energy sector bosses will take part in crisis talks with Chancellor Nadhim Zahawi and Business Secretary Kwasi Kwarteng as the price cap was forecast to hit more than £4,200 in January.
In a new dire outlook for households, Cornwall Insight said bills are set to soar to around £3,582 in October, from £1,971 on Tuesday, before rising even further in the new year. There has been widespread anger at Shell, BP and British Gas owner Centrica announcing bumper financial results while households struggle to cope with soaring bills.
The Sun reported gas and electricity executives will meet with the Cabinet ministers on Thursday morning, when the bosses will be asked to submit a breakdown of expected profits and payouts as well as investment plans for the next three years. It comes as Liz Truss branded as “bizarre” proposals to agree support for rising energy bills with the Government and Rishi Sunak before the Tory leadership contest is over.
