Oral Answers to Questions

Debate between Phillip Lee and Stephen Metcalfe

Thursday 19th March 2015 Commons Chamber

[Dr Phillip Lee (Bracknell) (Con)]

7. What assessment he has made of the effect of recent trends in wholesale energy prices on household energy bills.

[Stephen Metcalfe (South Basildon and East Thurrock) (Con)]

12. What assessment he has made of the effect of recent trends in wholesale energy prices on household energy bills.

[The Parliamentary Under-Secretary of State for Energy and Climate Change (Amber Rudd)]

All the major suppliers have announced reductions to their standard variable gas tariffs in recent weeks in response to reductions in the wholesale gas price. The price of fixed-term deals has continued to fall, with the cheapest deal on the market £100 cheaper than the cheapest deal a year ago. The Competition and Markets Authority has made it clear that it will be looking further at the relationship between wholesale costs and retail prices as part of its investigation.