Written question asked by Baroness McIntosh of Pickering (Conservative) on Tuesday, 31 January 2023, in the House of Lords. It was due for an answer on Tuesday, 14 February 2023. It was answered by Lord Callanan (Conservative) on Wednesday, 8 February 2023 on behalf of the Department for Business, Energy and Industrial Strategy.
Electricity: Prices
- Question
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To ask His Majesty's Government what plans they have (1) to reduce the standing charge on domestic household bills, and (2) to charge this to the recent profits announced by electricity distribution companies.
- Answer
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The setting of the standing charge is a commercial matter for individual suppliers. Under the Price Cap, a supplier’s default and standard variable tariffs unit rate and standing charge together must not exceed the level of the cap set by Ofgem.
The profits made by distribution network companies are regulated by Ofgem through the price control to ensure sufficient incentives for networks to deliver for consumers, whilst protecting consumers from high costs. The next price control begins in April, where returns for these companies will be set lower than previous price controls.
Secondary information
- Type
- Written question
- Reference
- HL5264
- Session
- 2022-23
- Subjects
- Electricity Prices
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2023-02-08 12:30:56 +0000
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/lords/2022-23/HL5264
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