Energy: Prices

Department for Energy and Climate Change written question – answered on 27th January 2015.

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Photo of David Morris David Morris Conservative, Morecambe and Lunesdale

To ask the Secretary of State for Energy and Climate Change, if he will conduct an impact assessment on freezing energy bills on the energy sector and its potential effect on the workforce that sector employs.

Photo of Matthew Hancock Matthew Hancock Minister of State (Department for Business, Innovation and Skills), Minister of State for Portsmouth, The Minister of State, Department of Energy and Climate Change

Our overall assessment is that a price freeze would have a negative impact on energy prices by increasing regulatory risk, decreasing the incentives for companies to cut prices, and could also have a detrimental impact on investment. A more risk averse approach to investment could affect supplier decisions regarding the size of their workforce.

Does this answer the above question?

Yes3 people think so

No1 person thinks not

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