EnergyWatch

UK energy firms seek bailout as government talks run on

A row of British energy suppliers under pressure by high market prices combined with regulatory caps on what they may charge rate payers are now asking the country's government for a major bailout. Meanwhile, Britain and several other European countries are enacting measures to shield consumers for surging costs.

Photo: Rafael Marchante/Reuters/Ritzau Scanpix

UK energy companies are seeking a massive government bailout as a surge in gas and electricity prices threatens to push suppliers out of business.

The UK government is set for a third day of emergency talks with the industry on Monday after Business Secretary Kwasi Kwarteng said small suppliers were under "pressure." Now large suppliers are seeking a rescue plan to help them handle the cost of taking on the customers of smaller suppliers that may fail, according to two people familiar with the situation.

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