Energy: Prices

(asked on 19th December 2023) - View Source

Question to the Department for Energy Security & Net Zero:

To ask His Majesty's Government what assessment they have made of the electricity and gas tariffs for both residential and business customers throughout the UK; and whether these respective tariffs are contributing to a lack of competitiveness of the UK against its major international competitors.


Answered by
Lord Callanan Portrait
Lord Callanan
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
This question was answered on 3rd January 2024

Gas prices for UK industrial users are among the cheapest in Europe. However, the UK’s industrial electricity prices are higher than those of comparable countries because the UK has spread electricity infrastructure costs more evenly between industry and households compared to other European countries.

Some energy and trade intensive industries that are particularly exposed receive energy price support.

For household customers, the price cap ensures that default tariffs in GB reflect the reasonable costs of supply.

Government also provided unprecedented levels of support to households and businesses across the UK last winter in response to global energy price spikes.

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