Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether his Department has undertaken an assessment of the effect of the energy price cap on energy companies in the UK.

An Impact Assessment was published alongside the Domestic Gas and Electricity (Tariff Cap) Act when it started its passage through Parliament, and Ofgem published their final impact assessment before implementation of the price cap.

Ofgem regularly reviews and sets the level of the price cap so that it reflects the underlying costs of supplying energy and that efficient suppliers can finance their licenced activities. This protects around 15 million British households on default tariffs, saving them between £75 and £100 a year on dual fuel bills.