Written question asked by Lord Laird (Non-affiliated) on Tuesday, 10 February 2015, in the House of Lords. It was due for an answer on Tuesday, 24 February 2015. It was answered by Baroness Verma (Conservative) on Monday, 23 February 2015 on behalf of the Department of Energy and Climate Change.
Electricity: Prices
- Question
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To ask Her Majesty’s Government what steps they plan to take to ensure that companies which supply electricity will reflect reductions in the cost of fuel in their charges to customers.
- Answer
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All of the major suppliers have reduced their standard variable gas tariffs in recent weeks in response to reductions in the wholesale gas price in 2014, but wholesale electricity prices have not fallen as much over the same period. The price of fixed term deals has continued to fall with the cheapest deal on the market £100 cheaper than the cheapest deal a year ago.
The Competition and Markets Authority has made clear that it will be looking at the relationship between wholesale costs and retail prices as part of its investigation.
Secondary information
- Type
- Written question
- Reference
- HL4925
- Session
- 2014-15
- Subjects
- Electricity Prices
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2015-05-22 02:38:30 +0100
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/lords/2014-15/HL4925
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