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 made an assessment of the operation of energy price caps in other countries prior to publishing the draft Domestic Gas and Electricity (Tariff Cap) Bill.
Many countries in the world regulate retail energy prices, but unlike Great Britain their markets were not previously liberalised. The Government is clear that the price cap should be temporary and that, in setting the cap, Ofgem must regard must be given to, among other things, the need to protect consumers and ensure that efficient suppliers can finance their activities.