Electricity and Natural Gas: Prices

(asked on 16th October 2023) - View Source

Question to the Department for Energy Security & Net Zero:

To ask the Secretary of State for Energy Security and Net Zero, if she will take steps to decouple the price of gas and electricity.


Answered by
Graham Stuart Portrait
Graham Stuart
This question was answered on 19th October 2023

As part of the Review of Electricity Market Arrangements (REMA) programme, the Government is considering a range of potential options to shield consumers from the impacts of potential future commodity price spikes and to ensure they benefit from lower-cost renewables.

The Contracts for Difference scheme already insulates consumers against electricity price spikes. Over time, this scheme will significantly reduce dependence on fossil fuelled power generation, lowering consumer exposure to gas prices.

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