Question to the Department for Energy Security & Net Zero:

To ask the Secretary of State for Energy Security and Net Zero, what steps his Department is taking to reduce the exposure of domestic energy bills to volatility in international wholesale gas markets.

The Government is going further and faster to protect domestic consumers from volatile gas prices. Firstly, we are accelerating the deployment of low-cost renewable electricity technologies to reduce our reliance on international fossil fuel markets.

Secondly, Government plans to offer legacy low-carbon generators – which provide around 30% of our power today – the option to move onto fixed price Contracts for Difference (CfDs). This will build on the success of existing CfDs for new build renewables, delinking electricity generation from volatile gas prices.

Finally, Government has raised the tax rate of the Electricity Generator Levy from 45% to 55% to limit revenues low-carbon generators can make due to gas price spikes.