Asked by: Markus Campbell-Savours (Labour - Penrith and Solway)
Question to the Department for Energy Security & Net Zero:
To ask the Secretary of State for Energy Security and Net Zero, whether he has considered supporting businesses with the cost of energy following recent increases in its cost.
Answered by Martin McCluskey - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
Through our Clean Power 2030 mission we are accelerating the transition to clean, homegrown electricity to shield end-users from the volatility of fossil fuel prices and to deliver reliable, affordable energy to every part of the UK economy.
We are already taking action to expand the British industry supercharger from April to reduce costs for the most energy-intensive businesses, and a significant proportion of businesses are on fixed-term contracts that shield them from market volatility for the contract duration. However, we recognise that at the point of contracting, businesses are exposed to international fossil fuel markets, and clearly, for both businesses and consumers, much will depend on the length of this crisis.
Just as we are looking across Government at the situation that households face, the Government is absolutely focused on the impact of the crisis on business and industry, and we will not hesitate to act.