Energy Minister Michael Shanks has said the Government is prepared to offer households whatever support is required as energy bills come under renewed pressure from the conflict in the Middle East.
Appearing before the Energy Security and Net Zero Committee, Mr Shanks sought to reassure consumers while acknowledging the impact of geopolitical instability on prices.
“The Government has said, ‘Look, we will fight the corner of consumers,'” he told MPs.
“We will do everything we can to first of all de‑escalate the situation but secondly to provide support wherever we can.”
He said both the Chancellor and the Prime Minister backed this position, adding: “We stand ready to provide whatever support is needed to consumers.”
Despite what he described as “scaremongering stories” in recent weeks, Mr Shanks insisted the UK’s energy supplies remain secure.
“The UK has very strong energy supplies from a diverse range of sources,” he said.
On gas, he confirmed all three LNG terminals were operating normally following conversations with operators the previous day.
Minister pledges support amid Middle East conflict pressure
|
GETTY
He also said fuel supplies were stable and urged the public to continue normal behaviour, including refuelling vehicles as usual.
Uncertainty remains over the future of the energy price cap, which is due to end in June. “Clearly, what happens at the end of that price cap period is still being worked through,” he said.
Ofgem is in the early stages of its assessment period, and Mr Shanks stressed it was “far too soon” to predict the outcome.
More clarity is expected as June approaches.
Committee chair Bill Esterson raised the possibility of removing policy costs from household bills — charges that currently account for £236 of the price cap.
Michael Shanks said Labour ‘will do everything we can’
|
GETTY
Mr Shanks said this was “a huge sum to play with” and confirmed it would be examined. “It’s an avenue that we have to look at very carefully,” he said.
However, he warned any changes must balance short‑term relief with long‑term investment.
“At the same time as we want to protect consumers right now, we have to start building a system that protects them permanently and keeps bills low in the future,” he said.
Expanding renewable energy capacity, he added, would reduce reliance on gas and help stabilise prices over time.