Producers of steel, glass, ceramics and paper and other sectors have said they may be forced to halt production unless the government does something about energy prices."It's a critical situation clearly," Kwarteng told the BBC, when asked about possible factory closures.
In a separate interview with Sky News he said: "We've got very, very high gas prices, very high electricity prices, we already have support in place for industries, and we're looking at ways that we can help industry."Asked if there might be an energy price cap for industrial users like there is for consumers, he told Times Radio: "That's not something that we've talked about.
"We're not in the business of bailouts. What we are in the business of is ensuring security of supply and that's what I'm focused on." Wholesale gas prices have increased 400% this year in Europe, partly due to low stocks and strong demand from Asia.Sign up for our newsletter Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
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