Media reports that UK oil and gas producers could be hit with an even-tougher windfall tax appear to be well wide of the mark.
This news will lead to relief for businesses in the North Sea sector, who were already concerned about the impact of the extra levy imposed earlier this year.
There had been claims yesterday that Chancellor Nadhim Zahawi and Business Secretary Kwasi Kwarteng were to hold crisis talks with offshore industry bosses today about increasing the scope of the new tax.
But the Guardian has now revealed that the get-together with the ministers does not even involve oil and gas producers - it is for electricity generators.
Companies in attendance are expected to include British Gas owner Centrica, as well as RWE, E.ON, SSE and National Grid.
Multiple government sources have said today's meeting with the generators will discuss investment, wholesale prices and security of supply.
Rowing back
The Guardian also reports that UK Government ministers are rowing back from threatening oil and gas producers with a tougher windfall tax – a move some opposition politicians have been calling for - after Tory leadership candidate Liz Truss, the Foreign Secretary, and her ally Kwasi Kwarteng made plain they would not support this option.
A business department source made clear Mr Kwarteng was "against windfall taxes" after he previously opposed the imposition of one when Rishi Sunak as chancellor brought it in earlier this year.
The source also cast doubt on whether Mr Zahawi "has the authority" to suggest a windfall tax could be imposed, given no policy decisions are being taken before a new prime minister is in place.
A Truss campaign spokesperson told the Guardian: "Windfall taxes send the wrong message to businesses. They might secure more money in the short term, but in the long term all they do is create greater uncertainty and make businesses fear that they'll be penalised for generating profits.
"What we need to do is keep taxes low, attract investment and do everything we can to secure our long-term energy supply and encourage energy companies to invest in new technologies to deliver increased supplies and keep bills as low as possible."
The Truss campaign also appeared to blame Treasury officials and Ms Truss’s Tory leadership rival, Mr Sunak, for the idea of extending the windfall tax, saying:"Rishi's answer to every problem is more tax and it's no surprise that in its dying days Rishi Sunak's Treasury is attempting to use its final breath to force through new taxes that would make bills higher, make it harder to attract new oil-and-gas investors and prevent new sources of energy emerging. This is Treasury officials freelancing. Distracted by planning a leadership campaign, Rishi Sunak has failed to grip the energy crisis."
False promise
Meanwhile, Mr Sunak has said he would rather lose the Tory leadership race than "win on a false promise".
In a BBC interview, the former chancellor said he would tell people what "they needed to hear" and stay "true" to his values.
He added the next prime minister had a "moral responsibility" to support poorer households with payments for energy bills.
And he said rival Liz Truss's plan for tax cuts would not help the most needy.
He told the BBC's Nick Robinson he would spend billions of pounds on further targeted payments to pensioners and those on low incomes.
The plan marks a contrast with Ms Truss, who argues tax cuts are a more Conservative way to help with rising living costs.