Question to the Department for Energy Security & Net Zero:

To ask the Secretary of State for Energy Security and Net Zero, what progress his Department has made in reducing the influence of gas prices on wholesale electricity prices.

Government is accelerating the deployment of low-cost renewable electricity technologies to reduce our reliance on international fossil fuel markets.

The existing Contracts for Difference (CfD) scheme has been successful in bringing forth new renewable assets at fixed, competitive prices. These CfDs are already beginning to decouple electricity and gas markets, protecting consumers from higher electricity bills when gas prices increase.

In April, Government announced plans to offer legacy low-carbon generators – which provide around 30% of our power today – the option of a fixed price CfD. These contracts will build on the success of existing CfDs, further delinking electricity generation from volatile gas prices.