The CEO of energy regulator Ofgem has told MPs that more energy firms are likely to stop trading due to the energy price surge.
Jonathan Brearley told the Business, Energy & Industrial Strategy Committee that Ofgem is planning for any eventuality, and that there is a lot of pressure on the sector right now due to the jump in energy prices.
Q: What gives the prime minister the confidence to say this will be a temporary issue?
Brearley says history shows that price spikes do go away. But that’s not something Ofgem would rely on – it has to plan for a whole range of scenarios.
Q: How significant is the…