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Written Question
Energy: Prices
Friday 3rd February 2023

Asked by: James Daly (Conservative - Bury North)

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether his Department has made an assessment of the effect of a potential fall in wholesale energy prices on future levels of domestic energy prices.

Answered by Graham Stuart - Minister of State (Department for Energy Security and Net Zero)

Despite the recent fall in wholesale energy prices, energy markets remain volatile, and prices are still well above historical norms. Suppliers typically buy energy in advance of when it is delivered and Ofgem determines a maximum price they can charge consumers to recover the cost of this through the price cap. This means there can be a delay between changes in wholesale prices and these being reflected in consumer bills.

The Government’s Energy Price Guarantee (EPG) will save a typical household around £900 this winter.


Speech in Commons Chamber - Fri 25 Nov 2022
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View all James Daly (Con - Bury North) contributions to the debate on: Electricity and Gas Transmission (Compensation) Bill

Speech in Commons Chamber - Fri 25 Nov 2022
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View all James Daly (Con - Bury North) contributions to the debate on: Electricity and Gas Transmission (Compensation) Bill

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Speech in Public Bill Committees - Thu 03 Nov 2022
Economic Crime and Corporate Transparency Bill (Eighth sitting)

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View all James Daly (Con - Bury North) contributions to the debate on: Economic Crime and Corporate Transparency Bill (Eighth sitting)

Speech in Commons Chamber - Fri 28 Oct 2022
Employment Relations (Flexible Working) Bill

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View all James Daly (Con - Bury North) contributions to the debate on: Employment Relations (Flexible Working) Bill

Speech in Commons Chamber - Fri 28 Oct 2022
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View all James Daly (Con - Bury North) contributions to the debate on: Employment Relations (Flexible Working) Bill

Speech in Commons Chamber - Fri 28 Oct 2022
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View all James Daly (Con - Bury North) contributions to the debate on: Employment Relations (Flexible Working) Bill

Speech in Commons Chamber - Fri 28 Oct 2022
Employment Relations (Flexible Working) Bill

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View all James Daly (Con - Bury North) contributions to the debate on: Employment Relations (Flexible Working) Bill

Speech in Public Bill Committees - Tue 25 Oct 2022
Economic Crime and Corporate Transparency Bill (Second sitting)

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View all James Daly (Con - Bury North) contributions to the debate on: Economic Crime and Corporate Transparency Bill (Second sitting)