Energy: Prices

(asked on 21st October 2024) - View Source

Question to the Department for Energy Security & Net Zero:

To ask the Secretary of State for Energy Security and Net Zero, if he will hold discussions with regulators on potential changes in the level of energy prices.


Answered by
Miatta Fahnbulleh Portrait
Miatta Fahnbulleh
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
This question was answered on 29th October 2024

The Energy Price Cap is set by Ofgem and there are different costs included in the price cap, such as the wholesale cost of energy. Any changes to these costs will affect how much the price cap will be each time it is reviewed.

As such, the Government believes the only way to protect consumers permanently is to speed up the transition towards homegrown clean energy and reduce our reliance on volatile international fossil fuel markets.

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