Rishi Sunak: “I don’t have a crystal ball as to what exactly the future holds”

The Chancellor said the energy prices are likely to keep rising

Energy prices are very likely to go up in the near future and bills may increase again in October, the Chancellor said.

During a Downing Street press conference, held a few hours after Ofgem’s announcement of the new price cap, Rishi Sunak said that this is something “we have to get used to”.

Asked about the energy crisis and the factors that drive higher gas prices, the Chancellor said: “I don’t have a crystal ball as to what exactly the future holds but I want to be honest with people, the high energy prices are something we are going to have to adjust to in common with other countries around the world and it would be wrong to pretend otherwise.

“But what we can do is slow that adjustment and making it more manageable for people household budgets and that what these interventions do.”

Mr Sunak denied that the new measures to help the energy crisis are bailouts: “I would not describe it as a bailout. I think actually what that was, was something different.

“We are not providing loans to energy companies. What we are doing is discounting people’s bills by £200 using their energy bill as a means to do that.”

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