COMMONS

Ofgem questioned on Government's Energy Price Cap

10 January 2018

The Business, Energy and Industrial Strategy (BEIS) Committee questions Dermot Nolan, Chief Executive, Ofgem as part of the Committee's pre-legislative scrutiny of the Government's draft bill to cap energy prices.

Examining likely impact of the legislation

The BEIS Committee's pre-legislative scrutiny of the Government's Draft Domestic Gas and Electricity (Tariff Cap) Bill involves examining the objective, provisions, and likely impact of the legislation.

The Committee has previously heard from energy companies on the likely impacts of capping prices. In this session,  MPs will question Dermot Nolan, chief executive of energy regulator Ofgem, which has responsibility for setting the price cap.

The session is likely to examine Ofgem's views on the interaction of the Government's cap with Ofgem's safeguard tariff and how Ofgem will measure the "conditions for effective competition" in the market.

Witnesses

Wednesday 10 January, Wilson Room, Portcullis House

At 10.00am

  • Dermot Nolan, Chief Executive, Ofgem

Chair's comments

Rachel Reeves MP, Chair of the Business, Energy and Industrial Strategy Committee, said:

"This Committee has pledged to examine thoroughly the draft legislation to ensure it can deliver on the Government’s pledge to secure fairer bills for consumers. 
 
We'll be using this session to explore some of the criticisms of the Bill we have heard from energy companies and to test the Government's commitment to breaking down some of the barriers that make it difficult for consumers to switch suppliers. 
 
We also want to find out more from Ofgem about how it will go about setting the price cap, in line with the Bill, and how it will determine when the market is working properly again and the cap is no longer needed."

Further information

Image: iStockphoto

More news on: Parliament, government and politics, Parliament, Economy and finance, Energy and environment, Energy, Incomes and poverty, House of Commons news, Commons news, Committee news

Share this page