U.K. Government Seeks National Grid Meeting as Power Costs Surge
U.K. Government Seeks National Grid Meeting as Power Costs Surge
(Bloomberg) -- U.K. Business Secretary Kwasi Kwarteng is seeking a meeting with the chief executive of National Grid Plc amid a surge in power prices that’s disrupting businesses.
No time or date has yet been set for the meeting with John Pettigrew, according to a person familiar with the matter, who said Kwarteng has been having regular updates from the government’s energy resilience unit. National Grid didn’t immediately comment.
Kwarteng is closely monitoring the situation after power and gas prices soared to record highs, causing a knock-on effect across the economy. Surging energy costs led two U.K. fertilizer plants to halt output, threatening shortages of carbon dioxide -- a byproduct of fertilizer production -- relied on by the food industry.
U.K. officials earlier today held a meeting with the meat industry to discuss the CO2 shortage, the person said.
“We are monitoring this situation closely and are in regular contact with the food and farming organizations and industry, to help them manage the current situation,” the government said in a statement.
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