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 what assessment his Department has made of the effect of an energy price cap on the a (a) rise and (b) fall in wholesale energy prices.

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)

In designing the method for setting the level of the price cap we would expect that Ofgem would need to consider how to take account of relevant changes in wholesale energy prices, whilst maintaining incentives for switching and enabling effective competition.

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