Britain will not be bailing out failing energy companies - minister

Britain's government will not bail out failing energy companies, business minister Kwasi Kwarteng said on Monday, after wholesale gas prices soared, forcing some smaller suppliers to cease trading.

"The government will not be bailing out failed companies, there will be no rewards for failure or mismanagement, the taxpayer should not be expected to prop up companies which have poor business models," Kwarteng told parliament.