Energy Security and Net Zero Committee

Part of the debate – in the House of Commons at 12:28 pm on 22 January 2026.

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Photo of Bill Esterson Bill Esterson Chair, Energy Security and Net Zero Committee, Chair, Energy Security and Net Zero Committee 12:28, 22 January 2026

That is really looking to the second part of our inquiry, but we have heard evidence on this already. The price cap at the start of 2024 was £1,928. It is now £1,758 and, according to the retailers, is due to come down further over the next few months. It is also important to compare like with like. We have to increase the capacity of generation in this country; comparing gas-fired power stations to renewables, renewables are 40% cheaper on a like-for-like comparison for new generation. Just in the last few days, we saw that Reform’s favourite leader, Putin, intervened again and we had an immediate spike in gas prices, so the evidence is very strong that the Government are on the right track. We have the immediate fall in the price cap—the figures I read out—and we have the Government agenda. The Committee will be looking, in the second part of its inquiry, at much of the detail and making further recommendations on how to cut Bills in the short term.

bills

A proposal for new legislation that is debated by Parliament.