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.
- Watch Parliament TV: Pre-legislative scrutiny of the draft Domestic Gas and Electricity (Tariff Cap) Bill
- Inquiry: Pre-legislative scrutiny of the draft Domestic Gas and Electricity (Tariff Cap) Bill
- Business, Energy and Industrial Strategy Committee
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.
Wednesday 10 January, Wilson Room, Portcullis House
- Dermot Nolan, Chief Executive, Ofgem
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."