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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 advice they sought from (1) Ofgem, and (2) the Competition and Markets Authority, ahead of the Prime Minister's announcement in October 2017 of an energy tariff cap.

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

Ministers and officials in the Department for Business, Energy and Industrial Strategy seek advice from stakeholders on a range of issues.

My noble Friend will be aware that, on a referral from Ofgem, the Competition and Markets Authority carried out an extensive investigation into the energy market in which it found that customers of the Big 6 energy suppliers are suffering an average annual detriment of around £1.4bn due to overcharging and supplier inefficiencies.

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