Dawn asks about falling oil prices and the effect on consumer prices


To ask Mr Chancellor of the Exchequer, with reference to the Competition and Markets Authority report on energy market investigation published on 10 March 2016, what recent progress has been made on his Department's investigation into consumer benefits from falling gas prices.

Answer by Damien Hinds, Exchequer Secretary (HM Treasury)

The Treasury has conducted internal studies to examine how far and how quickly the benefits of oil and gas price falls were fed through to consumers, and engaged with industry to stress the importance of this happening. The Government welcomes the CMA’s provisional decisions on remedies of their energy market investigation, which included proposals to introduce a safeguard tariff to protect customers on pre-payment meters. The government will act quickly on the CMA’s recommendations to ensure that bill payers get a fair deal from energy markets.

Answered on: 12 April 2016


Please check your e-mail for a link to activate your account.

The Labour Party will place cookies on your computer to help us make this website better.

Please read this to review the updates about which cookies we use and what information we collect on our site.

To find out more about these cookies, see our privacy notice. Use of this site confirms your acceptance of these cookies.