Energy: Prices

Department for Business, Energy and Industrial Strategy written question – answered on 20th March 2018.

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Photo of Lord Risby Lord Risby Conservative

To ask Her Majesty's Government what assessment they have made of the impact of the Domestic Gas and Electricity (Tariff Cap) Bill on investment in the development of future (1) power, and (2) gas supplies, in the UK.

Photo of Lord Henley Lord Henley Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

The Domestic Gas and Electricity (Tariff Cap) Bill is clear that Ofgem must have regard to the need to ensure that holders of supply licences who operate efficiently are able to finance activities authorised by the licence. It would be for the independent regulator, Ofgem, to make its assessment of efficient operations. Ofgem is not required to have regard to investment projects that are outside the scope of the activities authorised by the supply licence.

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