THE high level crisis meeting between Boris Johnson and Britain's energy firms has ended with no new measures in place.
Despite Chancellor Nahdim Zahawi warning the companies that the government “continues to evaluate the extraordinary profits seen in certain parts of the electricity generation sector," the outgoing Conservative leader made clear that it would be “for the next Prime Minister to make significant fiscal decisions.”
Earlier today, a new analysis from energy consultant Auxilione warned that bills could hit £5,000 a year by next April.
Nicola Sturgeon warned that families across Scotland would simply not be able to pay.
Without urgent action, she said, "we're going to see, undoubtedly, loss of life."
Mr Johnson- who has just three weeks left in office - unexpectedly joined the crisis meeting with Mr Zahawi and Business Secretary Kwasi Kwarteng.
Companies including EDF, SSE, ScottishPower and British Gas owners Centrica were among those attending.
However, there were no representatives from energy giants BP or Shell. They have both made billions in profits this year, thanks, in part, to Vladimir Putin's invasion of Ukraine.
Speaking after the meeting, the Chancellor said that in the “spirit of national unity” the energy companies who attended had agreed to “do more to help the people who most need it.”
But there was little detail on what that might mean.
In his statement, the Prime Minister said this was going to be a “difficult winter for people across the UK”.
He added: “Following our meeting today, we will keep urging the electricity sector to continue working on ways we can ease the cost of living pressures and to invest further and faster in British energy security.
“We are continuing to roll out government support over the coming months, including the second £324 instalment of the cost of living payment for vulnerable households, extra help for pensioners and those with disabilities, and the £400 energy bills discount for all households.”
Speaking earlier, Ms Sturgeon warned that without immediate help people would die.
She told Bauer radio: "People are really struggling to meet their monthly bills to heat their homes - which as we go into the winter will be an increasing concern - and to feed their children.
"When we look ahead at what is projected to happen with energy costs, this is not just a situation of families feeling a squeeze and having to tighten their belts in order to meet higher bills, there are going to be many, many families who simply cannot pay these bills because they don't have the wherewithal to do it."
The First Minister said the next energy price rise should be cancelled and called windfall on profits. She also said the VAT on fuel "should be taken away."
Ms Sturgeon also said the UK government should consider borrowing more "to get money to those who most need it."
She said the "magnitude and the severity of the emergency that's being faced" was on a similar scale to the Covid pandemic.
"If it's not tackled with serious urgent action, we're going to see increasing debt provision, suffering, we're going to see, undoubtedly, loss of life."
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereLast Updated:
Report this comment Cancel