REA calls for an emergency energy crisis summit
In an open letter sent today (11 August), the REA said the Conservative leadership contest has created uncertainty, with "precious time being lost’".
The trade association warned the Government that, while a number of solutions to tackle the crisis exist, those options will narrow if action is delayed by another month.
With energy bills expected to soar to the equivalent of £3,582 per year from October and £4,266 per year from January, the REA said there needs to be "real clarity combined with collective and decisive leadership" to avoid "crushing cost of living consequences" and "spiralling inflation across the supply chain".
Dr Nina Skorupska, chief executive of REA, said: “Every week that goes by is precious time that is being lost. There needs to be real clarity combined with collective and decisive leadership - the country simply cannot afford to wait another month.
"That is why the REA echoes the calls for a crisis summit and the delivery of an emergency package of support.”