The Executive Secretary said there was no “cause of imminent concern” about gas supplies in the UK this winter.
“I’m confident we can maintain supply,” said Kwasi Kwaten after meeting with industry leaders on Saturday.
He previously said energy security was an “absolute priority” after wholesale gas prices rose due to high global demand, maintenance issues, and low solar and wind energy output. I was saying.
He tweeted. “Today, I held a series of individual meetings with senior executives in the energy industry to discuss the impact of rising global gas prices.
“I was relieved that supply safety was not the cause of pressing concerns within the industry.
“The UK benefits from having a diverse gas source with sufficient capacity to meet demand.
“The UK gas system is still in good working order and we do not expect an emergency this winter.”
Kwarteng is understood to have met with senior executives from Ofgem, Centrica, National Grid, Energy UK, Octopus, Ovo, SSE, EDF, ScottishPower, Shell Energy, E.ON, Bulb and SGN.
Protecting customers from significant price increases is an “absolute priority,” he said.
Kwarteng said on Twitter: “Energy price caps exist to protect millions of customers. Initiatives such as warm home discounts, winter fuel payments, and cold weather payments are even more helpful.”
The Executive Secretary added that he is confident that energy security can be maintained while increasing renewable energy usage.
He states: “Energy security is an absolute priority. We are confident that we can maintain supply.
“A new supplier is appointed for customers in energy companies that can no longer trade.
“Ofgem is working closely with the government to manage the broader impact of rising global gas prices.”
“Our largest single source of gas is domestic production and most of our imports come from trusted suppliers such as Norway. We are not dependent on Russian oil and gas.
“But exposure to volatile global gas prices underscores the importance of planning to build a strong homegrown renewable energy sector to further reduce its reliance on fossil fuels. Energy has quadrupled since 2010, but there’s still a lot to do. “
Kwarteng said he would meet again with industry regulator Ofgem on Sunday before holding a roundtable with industry leaders on Monday.
He said he would “always stay in touch” with colleagues throughout the government to “manage the broader impact of rising global gas prices.”
Ofgem, a former regulator chief, warned that Britain could face high energy prices for the rest of the year.
Former CEO of Ofgem, Dermot Nolan, said the increase was the result of inventory depletion following the cold winter of last year, reduced supply from Russia, and increased demand for liquefied natural gas from the Far East. Stated.
He told the BBC Radio 4 Today program: The UK has a relatively diverse range of gas sources, so I think the lights will continue to illuminate.
“But in my view, high prices for gas and electricity are likely to continue for the next three to four months.
“It’s very difficult to know what the government can do directly in this regard.”
Earlier, the Labor Party’s Shadow Business Secretary, Edward Miliband, said: “The basic duty of the government is to ensure a safe and affordable energy supply for businesses and families.
“Because of the fundamental failure of long-term government planning over the last decade, we are very exposed, vulnerable and paying for businesses and consumers as a nation.
“If we invested in a diverse and safe zero-carbon energy supply on a sufficient scale and put energy efficiency far ahead, we would not be in such an unstable position.
“Ministers must recognize the seriousness of the living cost crisis currently facing families as a result of rising energy prices and their unjustified tax increases and must cancel the reduction to Universal Credit.
“They also need to take long-term action to ensure supply security, be much more robust, resilient and have a diverse energy infrastructure in place.”
An Ofgem spokesman said:
“This is definitely putting pressure on companies. In the last few weeks, four companies have left the market.
“Ofgem cannot comment on whether further suppliers will fail, but we have systems and processes in place to ensure that customer needs are always met.
Additional report by Press Association