Energy: Prices
The question
To ask the Secretary of State for Energy Security and Net Zero, if he will hold discussions with regulators on potential changes in the level of energy prices.
Answered by Miatta Fahnbulleh
The Energy Price Cap is set by Ofgem and there are different costs included in the price cap, such as the wholesale cost of energy. Any changes to these costs will affect how much the price cap will be each time it is reviewed.
As such, the Government believes the only way to protect consumers permanently is to speed up the transition towards homegrown clean energy and reduce our reliance on volatile international fossil fuel markets.
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