Asked by: Lord Empey (Ulster Unionist Party - Life peer)
Question to the Department for Energy Security & Net Zero:
To ask His Majesty's Government what assessment they have made of the electricity and gas tariffs for both residential and business customers throughout the UK; and whether these respective tariffs are contributing to a lack of competitiveness of the UK against its major international competitors.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
Gas prices for UK industrial users are among the cheapest in Europe. However, the UK’s industrial electricity prices are higher than those of comparable countries because the UK has spread electricity infrastructure costs more evenly between industry and households compared to other European countries.
Some energy and trade intensive industries that are particularly exposed receive energy price support.
For household customers, the price cap ensures that default tariffs in GB reflect the reasonable costs of supply.
Government also provided unprecedented levels of support to households and businesses across the UK last winter in response to global energy price spikes.
Asked by: Lord Empey (Ulster Unionist Party - Life peer)
Question to the Department for Energy Security & Net Zero:
To ask His Majesty's Government what assessment they have made of the effectiveness of regulatory frameworks for electricity and gas throughout the UK.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
The Government’s Smarter Regulation programme aims to reform existing regulations to minimise regulatory burden, ensure regulations are contemporary and forward looking, and make use of alternatives to regulation wherever beneficial, whilst ensuring a well-functioning regulatory landscape. Alongside this, the Government’s retail energy reform programme aims to ensure consumers receive good service, fair prices, that energy companies invest in innovative products and services, and consumer choice contributes towards a lowest-cost flexible energy system. In addition, the ongoing Review of Electricity Market Arrangements is conducting a widescale assessment of the current regulatory arrangements for the wholesale electricity market.