Kwasi Kwarteng said that by decarbonising the UK's power supply, the Government will ensure that households are better protected from volatile fluctuations in prices. Boris Johnson has already set out ambitious plans to decarbonise electricity production by 2035. It means all electricity provided to the National Grid will come from wind power and other new technologies.

       Mr Kwarteng said this pledge would help households' budgets while reducing their carbon footprint. Speaking at a conference organised by trade body Energy UK, he said: "Our homes and businesses will be powered by affordable, clean and secure electricity generated here in the UK, for people in the UK.

       Relying on homegrown power generation will protect consumers from gas price fluctuations. And it will, in the long run, bring down bills. We will use the wealth of Britain's natural resources to deliver cleaner, cheaper power."

       Wind turbine sites have sprung up across the UK over the years, including major developments such as the Gwynt y Mor Wind Farm off the coast of North Wales. Mr Kwarteng gave his assessment after the price of gas spiked in recent weeks. On Wednesday it hit new record highs, but fell again after Russian President Vladimir Putin hinted he might send more gas to Europe.

       The prices have driven many businesses to bankruptcy, and energy suppliers that are having to sell gas for less than they buy it are finding it impossible to continue. Earlier this week, Omni Energy warned customers it is likely to become another casualty in the energy sector.

       It comes after the National Grid Gas Transmission predicted the UK's infrastructure will be able to get enough gas into the country to see it through the winter. Electricity demand should also be safe, it was said.

       NGGT said Britain will be able to access more gas than what is used during peak demand. It said the UK has access to flexible supplies of gas from abroad, including liquid natural gas.