Energy: Costs

(asked on 14th October 2019) - View Source

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

To ask the Secretary of State for Business, Energy and Industrial Strategy, what progress her Department has made towards achieving the 2017 Conservative manifesto ambition to deliver lowest energy costs in Europe for (a) households and (b) businesses.


Answered by
Kwasi Kwarteng Portrait
Kwasi Kwarteng
This question was answered on 21st October 2019

With around 60 domestic suppliers in the market households can make big reductions to their bills when they switch and save. As we continue to work with Ofgem to reform the sector our price cap on standard variable tariffs protects people who can’t or don’t switch, saving them between £75-£100 per year, in addition to the protection provided by the pre-payment meter price cap.

The Government is also committed to minimising energy costs for businesses. We are consulting on the final design of the £315 million Industrial Energy Transformation Fund to support businesses with high energy use to cut their bills and emissions. This is in addition to the steps we have taken to reduce the cumulative impact of energy and climate change policies on industrial electricity prices for key Energy Intensive Industries (EIIs) in sectors such as steel, plastics, cement and chemicals. This includes a package of relief for EIIs worth over £900 million since 2013 until the end of financial year 2018/19.

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