Question to the Department for Energy Security & Net Zero:

To ask the Secretary of State for Energy Security and Net Zero, if she will make a comparative assessment of the (a) impact of the energy price cap on domestic consumers in (i) 2019, (ii) 2020, (iii) 2021, (iv) 2022 and (v) 2023 and (b) potential impact of the cap on domestic consumers in 2024 in the context of falling energy usage.

Decisions on the price cap methodology are for independent regulator Ofgem. The cap limits the amount energy suppliers can charge for each unit of gas and electricity, as well as the maximum standing charge consumers pay for access to the grid. The law requires Ofgem to ensure the cap level reflects the underlying efficient costs of supplying energy. The default tariff cap does not reduce prices below what it costs to serve customers, including the costs of purchasing wholesale gas and electricity.