Energy pricing and the future of the Energy Market
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 Bulb, Britain’s seventh-biggest supplier with 1.6 million households as customers.
The inquiry will examine the extent to which the policy and regulatory environment has contributed to the current issues affecting the energy market, the impact on consumers of rising energy prices, and the operation of the energy price cap.
The BEIS Committee’s inquiry follows an evidence session with Rt Hon Kwasi Kwarteng MP, Secretary of State for Business, Energy and Industrial Strategy, on 22 September, on Government measures to support the energy industry and protect consumers. The Committee also heard from regulator, Ofgem: trade body, Energy UK, and fuel poverty charity, National Energy Action.