Energy bill panic: Now hammered firms demand £20BILLION taxpayer bailout as crisis bites

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The cost of living crisis looks set to cause problems in 2022 as pressure mounts on Boris Johnson, 57, to help Brits deal with a rise in energy prices. Many British households are expected to face a bill increase of around £600 by April 1.

The Government has until around February 7 to come up with plans to deal with the problem before prices go up.

However, energy suppliers have now warned Government Ministers they will also need support to overcome the crisis.

Some big energy companies say they cannot survive unless rising prices are put at the foot of the bill payers door or unless they are subsidised.

Energy UK said: “It’s quite likely that the Treasury themselves will have to take a view on what to do because this impacts not just the energy retailers, but the whole economy.”

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However, Chancellor of the Exchequer Rishi Sunak, 41, and Business Secretary Kwasi Kwarteng, 46, have indicated they would prefer for banks to loan energy bosses the cash rather than calling on yet more support from taxpayers.

An ally of Mr Kwarteng told the Sun: “Since day one, it has been Kwasi’s approach to protect consumers and taxpayers rather than the balance sheet of big firms.”

Mr Johnson looks set to lay out how he will help Brits deal with rising energy bills by February 7.

However, the Prime Minister also faces calls from Tory MPs and the Labour frontbench to axe VAT on energy.

READ MORE: Boris backed into corner over UK energy crisis – PM caves to Tory fury with emergency plan

The manifesto-breaking rise has been introduced as a part of a £36bn tax raid to help pay for Mr Johnson’s social care reforms.

Despite the Leader of the Commons’ concerns, the Chancellor is reported to have responded by suggesting scrapping the tax rise would require the Government to find billions of pounds needed to tackle backlogs in the NHS from somewhere else.



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