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

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether he plans to take steps with Cabinet colleagues to regularly review the cap on household energy bills so that it reflects any reductions in global energy prices over the next two years.

OFGEM calculates and publishes the price cap, which limits the rates a supplier can charge for their default tariffs. The price cap calculations include consideration of global energy prices and cap levels are currently reviewed on a quarterly basis. The Energy Price Guarantee (EPG) scheme then applies a discount to these tariffs. The level of EPG discount will be reviewed quarterly in line with changes to the price cap to ensure that the scheme benefits consumers as intended and reflects any changes in global energy prices.