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Insider UK
Politics
Craig Paton, PA Scotland Deputy Political Editor

Nicola Sturgeon chairing second energy summit in two months in bid to support businesses facing rising costs

Nicola Sturgeon will today chair her second summit with energy industry leaders in less than two months to discuss helping businesses and households through the energy crisis.

It follows chancellor Jeremy Hunt's announcement that the energy price guarantee, which effectively capped energy prices for two years, will instead last for just six months. The UK Government says a more targeted approach will take its place next year.

The August meeting in Scotland included charities, energy suppliers such as Scottish Power, E.ON and OVO Energy, and also the Poverty Alliance and Energy Action Scotland.

READ MORE: Bank shares fall with reports Chancellor Jeremy Hunt could impose ‘ludicrous’ windfall taxes on their profits

In a statement on Wednesday, a spokesman for the Scottish Government said: “The Scottish Government is working hard within its limited powers and finite budget to support people, businesses, public services and the economy."

And the statement said that today "The First Minister will host a second summit with energy companies and advice organisations to discuss progress and identify any further action we can take to support households and businesses with the energy cost crisis.”

Mr Hunt, addressing the nation on Monday as he scrapped most of Prime Minister Liz Truss's mini-budget plans, said about the energy price guarantee: “This is a landmark policy supporting millions of people through a difficult winter and today I want to confirm that the support we are providing between now and April next year will not change.

“But beyond that, the Prime Minister and I have agreed it would not be responsible to continue exposing public finances to unlimited volatility in international gas prices.”

Campaigners have worried the change could leave households facing a “cliff edge” in their energy bills after April.

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