Question

To ask the Secretary of State for Energy and Climate Change, what steps he is taking to ensure that household energy bills reflect recent changes in wholesale energy costs.

All of the major suppliers have announced reductions to their standard variable gas tariffs in recent weeks in response to reductions in the wholesale gas price. The price of fixed term deals has continued to fall with the cheapest deal on the market £100 cheaper than the cheapest deal a year ago.

The Competition and Markets Authority has made clear that it will be looking further at the relationship between wholesale costs and retail prices as part of its investigation.