Energy pricing and the future of the Energy Market
Business and Trade Committee
Closed
Inquiry
The Business, Energy and Industrial Strategy Committee is holding an inquiry on Energy pricing and the future of the Energy Market. The Committee’s inquiry on the retail energy market follows unprecedented surges in wholesale energy prices since the summer and with a number of firms going out of business, including …
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32
Recommendations
27
Conclusions
1
Report
4
Oral sessions
19
Letters
4
Events
Activity timeline 29 events
31 Jan
2023
2023
13 Oct
2022
2022
21 Sep
2022
2022
6 Sep
2022
2022
29 Jul
2022
2022
29 Jul
2022
2022
26 Jul
2022
2022
Report published
12 Jul
2022
2022
5 Jul
2022
2022
5 Jul
2022
2022
28 Jun
2022
2022
Oral evidence sessions 4 sessions
24 May 2022
View on parliament.uk
Daniel Osgood · Department for Business, Energy & Industrial Strategy
Dermot Nolan · Ofgem
Jonathan Brearley · Ofgem
Neil Kenward · Ofgem
Neil Lawrence · Ofgem
Rt Hon Kwasi Kwarteng MP · Department for Business, Energy and Industrial Strategy
19 Apr 2022
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Chris O’ Shea · Centrica
Hayden Wood · Bulb Energy
Jake Brown · Avro Energy
Keith Anderson · ScottishPower
Michael Lewis · E.ON
Simone Rossi · EDF
22 Mar 2022
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Energy pricing and the future of the energy market and the impact of energy prices industry
Dr Richard Leese · Energy Intensive Users Group
Gillian Cooper · Citizens Advice
Martin Lewis CBE · Money Saving Expert
Nishma Patel · Chemical Industries Association
Paul Wilson · Federation of Small Businesses
Rachel Fletcher · Octopus Energy
Rachel Fletcher · Ofwat
Simon Oscroft · So Energy
8 Feb 2022
View on parliament.uk
Oral evidence session
Emma Pinchbeck · Energy UK
Jonathan Brearley · Department for Energy Security and Net Zero
Jonathan Brearley · Ofgem
Jonathan Marshall · The Resolution Foundation
Neil Kenward · Ofgem
Neil Lawrence · Ofgem
Peter Smith · National Energy Action
Stephen Fitzpatrick · OVO Energy
Reports 1 report · click to expand
| Title | HC No. | Published | Items | Response |
|---|---|---|---|---|
| Third Report - Energy pricing and the future of the Energy Market | HC 236 | 26 Jul 2022 | 59 | Responded |
Recommendations & Conclusions
7 results
12
Conclusion
Deferred
Third Report - Energy pricing and …
More significantly, we are concerned by the Government’s apparent lack of understanding of the extensive...
More significantly, we are concerned by the Government’s apparent lack of understanding of the extensive failings of the regulator and the consequences that this would have on the market in the event of any demand or supply-side shocks. 76 Energy …
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Government Response
The government states that the matter is for the Government and does not address the committee's concern.
Department for Business and Trade
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18
Recommendation
Deferred
Third Report - Energy pricing and …
We recommend that the Government and Ofgem reform the Supplier of Last Resort process so...
We recommend that the Government and Ofgem reform the Supplier of Last Resort process so that the costs are more fairly recouped whether through general taxation or energy bills.
Government Response
The government will undertake a wider review of all elements of the energy price cap as part of discussions with Government on the future of price protection for consumers as the Energy Price Guarantee draws to a close.
Department for Business and Trade
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20
Recommendation
Deferred
Third Report - Energy pricing and …
We support the National Audit Office’s recommendation that the Government and Ofgem review and subsequently...
We support the National Audit Office’s recommendation that the Government and Ofgem review and subsequently update the Supplier of Last Resort process to address the problems that arose over the last year, including delays in the transfer of customer information …
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Government Response
The government states that the recommendation to review and update the Supplier of Last Resort process is a matter for the government.
Department for Business and Trade
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23
Recommendation
Deferred
Third Report - Energy pricing and …
We recommend that, given the size of Bulb, the costs of the Special Administration Regime...
We recommend that, given the size of Bulb, the costs of the Special Administration Regime are paid through general taxation, as opposed to recouping the costs from already stretched energy bills. The Government should undertake a review of the Special …
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Government Response
The government stated that this is a matter for the government.
Department for Business and Trade
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28
Recommendation
Deferred
Third Report - Energy pricing and …
We found consensus from across the sector that the Government should bring forward legislation to...
We found consensus from across the sector that the Government should bring forward legislation to increase the frequency of the Renewables Obligation payments. We ask the Government to set out the reasons for repeated delay and failure in this area …
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Government Response
The government states this is a matter for government.
Department for Business and Trade
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37
Recommendation
Deferred
Third Report - Energy pricing and …
We recommend that the Government brings forward regulation of third-party intermediaries.
We recommend that the Government brings forward regulation of third-party intermediaries. Regulations should ensure that third-party intermediaries encourage customers to switch not just on price, but also on customer service standards and other factors. The regulations should also ensure that …
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Government Response
The government is considering responses to a call for evidence on third-party intermediaries and assessing the impact of recent market events, with next steps on the future of the retail market to be set out in due course.
Department for Business and Trade
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49
Recommendation
Deferred
Third Report - Energy pricing and …
It is unacceptable that prepayment customers, who are often moved to a prepayment meter because...
It is unacceptable that prepayment customers, who are often moved to a prepayment meter because they cannot afford their energy bill, pay more for their energy than direct debit customers. We recommend that Ofgem addresses this differential, for example by …
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Government Response
The government states that this is a matter for Government, not Ofgem.
Department for Business and Trade
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Government Response AI assessment · 59 of 32 classified
Accepted
20
Acknowledged
23
Deferred
7
Total
32 recs + 27 conclusions
Correspondence 19 letters
31 Jan 2023
Note from Ofgem incl. compliance and enforcement strategy, and detail for resourcing for compliance and enforcement
Parliament page
21 Sep 2022
To committee
Letter from the Minister for Energy, Clean Growth and Climate Change relating to the special administration of Bulb, 5 September 2022
Parliament page
6 Sep 2022
To committee
Letter from the Secretary of State relating to the special administration of Bulb Energy, 16 August 2022
Parliament page
29 Jul 2022
To committee
Letter from Chair to Rishi Sunak MP on energy bills, 26 July 2022
Parliament page
29 Jul 2022
To committee
Letter from Chair to Liz Truss MP on energy bills, 26 July 2022
Parliament page
12 Jul 2022
To committee
Letter from the Secretary of State relating to the Energy Security Bill, 6 July 2022
Parliament page
5 Jul 2022
To committee
Letter from the Minister for Energy, Clean Growth and Climate Change relating to the Special Administration of Bulb Energy, 28 June 2022
Parliament page
5 Jul 2022
To committee
Letter from the CEO of Ofgem relating to his appearance before the Committee last month, 27 June 2022
Parliament page
28 Jun 2022
To committee
Letter from the Secretary of State to Alan Brown MP following up from the session on energy pricing, 20 June 2022
Parliament page
28 Jun 2022
To committee
Letter from the End Fuel Poverty Coalition to the Chief Executive of OFCOM relating to energy markets, 14 June 2022
Parliament page
14 Jun 2022
To committee
Letter from the Chair to autoswitchers in the energy market, 26 May 2022
Parliament page
24 May 2022
To committee
Letter from the CEO of Centrica following up from his appearance before the Committee, 11 May 2022
Parliament page
24 May 2022
From committee
Letter to the Chancellor relating to the projected increase in the energy price cap, 24 May 2022
Parliament page
24 May 2022
To committee
Letter from the Minister of State for Energy, Clean Growth & Climate Change relating to Special Administration of Bulb, 17 May 2022
Parliament page
17 May 2022
Correspondence from the Minister for Energy, Clean Growth and Climate Change relating to the Special Administration of Bulb, 27 April 2022
Parliament page
20 Apr 2022
To committee
Letter from the Minister for Energy, Clean Growth and Climate Change relating to the special administration of Bulb Energy
Parliament page
19 Apr 2022
To committee
Letter from Lord Callanan on the Warm Home Discount and Energy Company Obligation schemes
Parliament page
1 Mar 2022
To committee
Letter from Centrica on the energy market and customer credit balances
Parliament page
1 Mar 2022
To committee
Letter from Ofgem in follow up to oral evidence on energy pricing and the UK energy market
Parliament page