Energy: Prices
The question
To ask the Secretary of State for Energy Security and Net Zero, what steps he is taking to reduce the energy price cap.
Answered by Martin McCluskey
The level of the price cap is calculated based on factors including the costs of buying gas, of transporting energy to homes and businesses across the country, and suppliers’ day-to-day costs. The single largest component is the wholesale cost of energy driven by the price of gas. The Government believes that our mission to deliver clean power by 2030 is the best way to break our dependence on global fossil fuel markets and protect billpayers permanently.
We recognise that we need to support households struggling with bills whilst we transition to clean power by 2030. This is why we delivered the Warm Home Discount to around 3 million eligible low-income households last winter. On 19 June we announced that we are expanding the Warm Home Discount to around an additional 2.7 million households. This means that from this winter, around 6 million low-income households will receive the £150 support to help with their energy bills.
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