Energy: Prices
The question
To ask the Secretary of State for Energy Security and Net Zero, what recent assessment her department has made of the impact of rising wholesale costs on energy bills.
Answered by Department for Energy Security and Net Zero
The Government recognises that any price rise is a concern for households. The latest increase in energy bills is driven by increased wholesale energy costs, particularly gas, due to the ongoing situation in the Middle East. This means families and businesses are still experiencing the effects of global fossil fuel markets and is why we are so focused on getting onto clean, homegrown power that we control.
The Government has already intervened to give households breathing space with the cost of living by cutting VAT on electricity bills.
In addition, this Government took an average £150 of costs off bills at the Autumn budget, which will be factored into bills for years to come.
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