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To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment she has made about the potential effect of Ofgem’s proposed reforms under the Targeting Charging Review on energy costs for steel companies.
Ofgem’s Targeted Charging Review is seeking to ensure all parties connected to the electricity network make a fair contribution to its fixed costs. This is consistent with Government’s views on the importance of an energy system that discourages free riding and ensures a fair distribution of costs, with solutions rewarded where they contribute to reduced system costs.
Network charging is a matter for Ofgem as the independent regulator, and decisions on its review are for it to make. The analysis published by Ofgem is available at https://www.ofgem.gov.uk/electricity/transmission-networks/charging/targeted-charging-review-significant-code-review. Ofgem expects total consumer costs to reduce as a result of its proposals. Ofgem has yet to take its final decisions on the review - it is currently considering the views and evidence provided in response to its most recent consultation.