Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment his Department has made of the impact of his oral statement, Economy Update, on 26 May 2022, Official Report, on the cost of capital and investment for electricity generators in the context of uncertainty on the steps he plans to take in response to power generation profits.

As the Chancellor set out in his statement on the cost of living support the Government is urgently evaluating the scale of extraordinary profits in the energy generation sector and the appropriate next steps.

As part of this process, and to mitigate potential uncertainty, officials are urgently engaging with industry stakeholders on this matter.