Lisa Nandy – 2016 Parliamentary Question to the Department for Business, Energy and Industrial Strategy

The below Parliamentary question was asked by Lisa Nandy on 2016-09-02.

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment his Department has made of the effects of recent changes in the value of the pound on the cost to the UK of electricity and gas imports.

Jesse Norman

The Department has not made an assessment of the recent changes in the value of the pound on cost to the UK of electricity and gas imports.

Exchange rates are only one of the factors which influence the cost of electricity and gas imports.

Market gas prices are also impacted by the availability and cost of a range of gas supplies, both regional and global, infrastructure constraints and global and regional demand. The cost of importing electricity to the UK through its interconnectors with other European countries is also influenced by the electricity generation mix in Europe and gas, coal and carbon prices and level of electricity demand in the UK and other European countries.