Power groups in the UK have suddenly discussed with the government the issue of natural disasters

Electronic changes in the UK

Join myFT Daily Digest to become the first professional UK specialist.

UK Business and Energy Secretary Kwasi Kwarteng is suddenly calling on Britain’s top groups today to address the crisis, as fears mount that power and electricity prices could send a “tsunami” to government suppliers.

Five small retailers have been out of work since early August as rising prices leave companies with inadequate security measures or low-cost securities to pay for the electricity they have designed to deliver.

There are growing concerns among the CEOs of the five major providers, including People’s Energy and Utility Point, with 570,000 domestic customers among them, with just a tip.

Electricity consultant Baringa said there could be “at least 10 retailers by winter”. At the end of March, there were 49 suppliers in-house, according to the findings of the Ofgem market.

One electricity retailer said this “never happened again” and said there could be a “tsunami” of failure for retailers which could force Ofgem’s approach to ensure the business customers are transferred to another company.

Michael Lewis, chief executive of Eon UK, told the Financial Times in an interview last week that what they were experiencing was “very difficult” because the market was “weak” even before the high prices.

He added that the business, collectively, has failed to comply with the 2019 implementation of the 15m family value proposition which limits the limits of retailers.

Ongem Ofgem on Friday opted for EDF Energy to take in 220,000 customers from Utility Point, but did not name any other People’s Energy retailer.

Kwarteng said in a tweet on Saturday morning that today he would speak to the top executives of the UK’s largest power supply and operators but added that “Britain has a wide range of energy sources, with more power than they need”.

“We don’t expect emergencies to be available this winter,” he said.

Kwarteng added that electricity security was “very important” and that the government was working with Ofgem and the gas users to assess the demands of the people.

Recorded oil prices will have a positive impact on the UK, which is pushing for the closure this week of two major fertilizer crops in northern England and threatening the supply of goods from animals to metals.

Ed Miliband, the UK’s secretary for trade, earlier this week criticized the government for “not being available”.

The talks should be like a phone call to senior executives, including British Gas and ScottishPower, people who are familiar with the talks have said so.

Oil prices in Britain and Europe have been rising sharply in recent weeks as traders fear the continent is heading into winter with low prices. The storage area was left after the long cold winter season.

Lower shipments from Russia, as well as gas-fired power plants began to delay late last year, with fewer injections in summer storage facilities.

Rising oil prices have had a profound effect on electricity prices, especially in countries such as Britain where oil is the largest source of electricity.

Low wind speeds have increased energy prices, while power outages at other power plants, including fires on British submarines from France on Wednesday, have raised concerns that there may be enough winter supplies.