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To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment his Department has made of the effect of an energy price cap on delivery of (a) switching rates and (b) other effects of the introduction of smart meters.
Ofgem would set the level of the price cap in a way such that, amongst other things, it would maintain incentives for switching and enable effective competition.
The draft Domestic Gas and Electricity (Tariff Cap) Bill is clear that Ofgem must take into account an efficient supplier’s ability to finance its activities. This would include the rollout of smart meters, which is a requirement of their supply licence.