The UK energy market faces a crisis that could get even worse during the winter months

Recent days have seen wholesale gas prices shooting up and the UK Business Secretary in crisis talks with energy companies about keeping the lights on.

It has also been reported that smaller energy suppliers are in crisis and may fold putting significant numbers of jobs at risk.

Sue Ferns, Prospect senior deputy general secretary, said:

“Despite government protestations, it is clear that the UK energy market faces a crisis that could get even worse during the winter months.

“Prospect warned over a year ago of the precarious position of energy retail companies but sadly nothing has been done to forestall the current problems.

“It is now all too clear that the limitations of the market will hit energy customers at a time when many are already under severe financial pressure. Anticipated company failures will also bring job losses and will impede the capacity of larger suppliers to provide advice on energy efficiency and household climate adaptations necessary to achieve net zero.

“This is a wake-up call for the Government which must intervene immediately to ensure short-term security of supply. The current crisis is a product of an overreliance on imports and weather-dependent renewables leaving us dangerously exposed to fluctuations in global natural gas markets. The UK must prioritise domestic sources of firm power, particularly nuclear, to ensure a secure, resilient and low carbon future.”