Energy: Prices

Treasury written question – answered on 19th January 2022.

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Photo of Lee Anderson Lee Anderson Conservative, Ashfield

To ask the Chancellor of the Exchequer, what recent steps he has taken to reduce energy prices.

Photo of Helen Whately Helen Whately The Exchequer Secretary

We recognise the recent increase in wholesale global gas prices will be a cause of concern for consumers, businesses, and energy suppliers across the UK.

Consumers have been shielded from price volatility this winter by the Energy Price Cap. The Government is also supporting low income and fuel poor households with their energy bills in a number of ways, including:

  • Consulting on expanding The Warm Home Discount, which currently provides eligible households with a £140 discount.
  • Winter Fuel Payments and Cold Weather Payments, which help ensure those most vulnerable are better able to heat their homes over the colder months.
  • The £500m Household Support Fund, which helps those in greatest need with the cost of essentials over the coming months.
  • The Government has allocated over £500 million to help households improve energy efficiency this year through the Social Housing Decarbonisation Fund and the Sustainable Warmth programmes.

The increase in the price of wholesale gas is a global issue. We will continue to keep options to further support households under review. In the longer term, Government will look to reduce our reliance on global gas prices by moving to a cleaner, more resilient energy system and improve energy efficiency to help keep bills down.

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