Energy: Prices

Department for Business, Energy and Industrial Strategy written question – answered on 26th February 2018.

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Photo of Nicholas Dakin Nicholas Dakin Opposition Whip (Commons)

To ask the Secretary of State for Business, Energy and Industrial Strategy, for what reasons his Department's impact assessment for the draft Domestic Gas and Electricity (Tariff Cap) Bill does not include quantitative data on the effect of a price cap on (a) investment in the energy sector and (b) customers, and if he will make a statement.

Photo of Claire Perry Claire Perry The Minister of State, Department for Business, Energy and Industrial Strategy, Minister of State (Business, Energy and Industrial Strategy) (Energy and Clean Growth)

As set out in the Impact Assessment for the draft Bill, the costs and benefits will depend on the detailed methodology the independent regulator Ofgem adopts to set the level of a tariff cap. The Government does not wish to pre-judge Ofgem’s work in establishing the methodology by including quantified analysis of the costs and benefits in the Impact Assessment.

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