United Kingdom · Question · Written question
UIN 189631
Energy: Prices
Introduced
14 June 2023
Last action
22 June 2023 · Answer
Status
Answered
Sponsors
—
Subjects
Energy
Source updated
22 June 2023
Summary
To ask the Secretary of State for Energy Security and Net Zero, whether he is taking steps to encourage energy companies to ensure that retail prices reflect wholesale prices.
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Timeline
14 June 2023
Written question
To ask the Secretary of State for Energy Security and Net Zero, whether he is taking steps to encourage energy companies to ensure that retail prices reflect wholesale prices.
Source: Commons
22 June 2023
Answer
It is common for suppliers to use hedging strategies to buy energy months in advance to protect their customers from some fluctuations in wholesale costs. Leading to a lag before lower prices feed through to consumers. Ofgem now sets the energy price cap ...
Source: Written answer
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Sponsors
- · Department for Energy Security and Net Zero · Answering body
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Sources
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- Official source: https://questions-statements.parliament.uk/written-questions/detail/2023-06-14/189631
- Open data entity: https://questions-statements-api.parliament.uk/api/writtenquestions/questions/1644656
- uk · wq-1644656 · source updated 22 June 2023