Question to the Department for Energy Security & Net Zero:

To ask His Majesty's Government whether they plan to ensure that the cost of using electricity to heat homes and buildings will fall below the cost of using hydrocarbons.

The Government understands that green, lower-carbon products are more efficient and cheaper to run. However, current distortions in electricity and gas prices do not always make this the case. We want to make it easier for consumers to make the switch to green products, such as heat pumps, by ‘rebalancing’ prices between electricity and gas to remove these distortions.

In ‘Powering Up Britain’, the Government accepted the recommendation from the Independent Review of Net Zero that Government should commit to outlining a clear approach to gas and electricity price rebalancing by the end of 2023/24 and should make significant progress affecting relative prices by the end of 2024.

The Department will provide further information in the coming year.