Live updates: Ofgem boss says price rises beyond what ‘any of us thought would happen’ and many will be affected by companies going bust
- Ministers explore ways to cut soaring energy bills for poorest households
- Britain’s hopes of early post-Brexit trade deal with US appear dashed
- Biden says trade tensions must not threaten peace in Northern Ireland
- Global coronavirus updates – live
Kwarteng says competition is essential for the gas market. He does not want to return to a “cosy oligopoly”, where a small number of companies would be able to set the price.
He says he wants to kill the perception that small companies are necessarily bad and big companies good.
Q: What is going to happen to the warm homes discount?
Kwarteng says that is a matter for the budget.