Second Delegated Legislation Committee
1 September 2026
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Second Delegated Legislation Committee House of Commons
00:14 - 00:16
Speaker 2
I call the Minister to move the motion.
00:16 - 02:59
Speaker 5
I beg to move that the Committee has considered the draft Energy Prices Act 2022 (Extension of Time Limit) (No. 2) Regulations. It's a pleasure to serve under your chairmanship, Sir Desmond Swayne. The Government acted in the autumn budget to reduce energy costs to benefit all households with a domestic energy contract. We did that by closing the Energy Company Obligation scheme to new costs on bills and by moving 75% of the domestic cost of the Renewables Obligation to the Exchequer. Those decisions are already making a real difference.
From April 2026, they took an average of £150 of costs off household energy bills and they continue to keep bills lower than they would otherwise be. The Renewables Obligation exists to support renewable electricity generation through a system of tradeable certificates. The scheme is closed to new applicants and the first generators will come off the scheme from April 2027. From the 1st of April, the Government has instead provided grant funding to electricity suppliers to cover 75% of the domestic share of these costs in Great Britain. We have also taken steps to ensure those savings are passed on.
For customers on standard variable tariffs, Ofgem has factored the lower policy costs into the price cap. For customers on other domestic tariffs, including fixed tariffs, the Government issued a legally binding direction requiring suppliers to pass through the savings in full. The latest price cap illustrates why this action matters. On the 26th of August, Ofgem announced that the cap for the 1st of October to the 31st of December will increase by 4% to £1,723 for a typical household, driven by ongoing wholesale price volatility as a result of the war in the Middle East. Ofgem has been clear that this increase is likely to be primarily felt on gas bills, with electricity bills remaining broadly flat.
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