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Energy & Science

U.K. Mulls Funding Plan for Energy Firms to Limit Price Hike

  • Energy suppliers would get a private loan to cope with costs
  • That would help soften a steep hike in bills expected in April
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The U.K. government is considering a proposal to help some of the nation’s biggest energy suppliers secure funding in a bid to shield millions of households from surging bills, according to people familiar with the matter.

The funding -- proposed by the industry -- would be provided through a private loan to allow energy companies to cope with the cost of taking on clients of failed rivals and limit a sharp increase in gas and electricity bills from April, said the people, who asked not to be named because the details are private. Barclays Plc is among the banks considering the plan, the people said.