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

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the potential merits of all energy network companies refunding excess profits to consumers.

Energy network regulation, including the setting of price controls, is a matter for Ofgem as the independent energy regulator and, by law, Government has no role in this process.

The current price control, RIIO-1, has led to significant benefits for consumers with gain share mechanisms resulting in savings worth over £5 billion. As part of this some companies have made voluntary returns of revenue, reflecting changes in investment that were planned at the start of the price controls but are now no longer required. Ofgem estimates that these returns will result in benefits to consumers worth more than £700 million.