Energy and Climate Change written question – answered at on 20 January 2011.
To ask the Secretary of State for Energy and Climate Change what recent discussions he has had with gas and electricity suppliers on trends in energy supply costs to domestic consumers; and if he will make a statement.
DECC Ministers and officials meet with suppliers on a regular basis to discuss market issues.
We believe it is important that consumers have the lowest possible energy bills, consistent with the need to invest to reduce carbon emissions from energy and ensure security of supply.
Ofgem therefore, monitors the market closely and reports quarterly on retail prices. Their latest report shows large increases in estimated supplier margins for the year ahead, largely due to recent price increases. We are disappointed on behalf of consumers by this development and welcome the announcement of Ofgem's review of the retail market. Ofgem will report on this review in March of this year. This announcement is available online at:
http://www.ofgem.gov.uk/Media/PressRel/Documents1/Retail%20Market%2026%
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