Energy: Prices
(asked on 18th 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, what (a) infrastructure costs and (b) other items OFGEM includes in the calculation of energy prices.
This question was answered on 23rd October 2023
Wholesale and retail energy prices are a commercial matter and are set by the market.
Ofgem only calculates energy prices in so far as is necessary to set the maximum price for domestic default tariffs under the price cap.
Detail on how Ofgem calculate this can be found on their website: https://www.ofgem.gov.uk/publications/energy-price-cap-default-tariff-1-october-31-december-2023