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

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether he has had discussions with Ofgem on a report it commissioned from Oliver Wyman Ltd on the potential impact, costs, risks, legal implications and timing of four options to reduce wholesale prices for gas and electricity.

My rt. hon. Friend the Secretary of State for Business, Energy and Industrial Strategy has regular discussions with Ofgem’s CEO on a range of issues relating to the impact of high global gas prices, including wholesale energy markets. Ofgem, as the independent regulator of Great Britain’s gas and electricity markets, continues to examine ways to reduce the impact of the recent unprecedented rise in wholesale gas prices on energy consumers.