Liz Truss ally ‘seriously considering’ plan for crisis fund to control energy bills, industry boss reveals

Scottish Power chief encouraged by meeting with Kwasi Kwarteng – tipped to be next chancellor

Business secretary and key Liz Truss ally Kwasi Kwarteng is “seriously considering” a £100bn plan for a crisis fund to keep energy bills under control, according to the head of Scottish Power.

Chief executive Keith Anderson said he had suggested that a state-backed fund could provide loans to energy firms so they can freeze prices for two years – with costs then repaid over the next 15 to 20 years.

Mr Anderson told BBC’s Good Morning Scotland that he had discussed the proposals with Mr Kwarteng last week, and he understood they were now being “seriously considered” by the government.