Just a week ago, following the resignation of Suella Braverman, Mr Shapps was appointed Home Secretary.
He had previously served as Transport Secretary under Boris Johnson between 2019-2022.
The new Business Secretary faces big challenges ahead, with the Energy Prices Bill having already met scepticism among energy companies and trade associations regarding the “extensive powers” given to the head of BEIS and the cap on revenues made by renewable energy generators.
Last night, BEIS tweeted: “This evening, we welcomed Grant Shapps as the Secretary of State for BEIS.
“He told staff: The department has clearly huge agenda, in particular on energy prices. Let’s get to work.”
Mr Shapps added: “As Business and Energy Secretary, I look forward to leading the department to fix our energy market and deliver growth and prosperity for the UK.”