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1491336

	registered interest
	date	21/07/2022
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Renewable Energy: Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the potential impact of the upcoming Contract for Difference Auction Round 4 on energy bills.
	tabling member constituency	Hendon
	tabling member printed	Dr Matthew Offord
	uin	41992
	answer	answer is ministerial correction date of answer 06/09/2022 answer text <p>The Government is committed to minimising energy costs for businesses and consumers.</p><p> </p><p>The precise bill impact of Allocation Round 4 (AR4) will be dependent on future wholesale electricity prices, which remain uncertain. Although difficult to predict with certainty, the Government expects AR4 to have a relatively small impact on household bills. AR4 will deliver capacity which is a critical part of the Government’s strategy to reduce system costs and will increase energy independence by contributing towards the transition to a low carbon electricity system.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 06/09/2022 14:12:44 answering member 1526 label Biography information for Greg Hands
	tabling member	4006 label Biography information for Dr Matthew Offord

1463031

	registered interest
	date	16/05/2022
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Renewable Energy: Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the potential effect of the upcoming Contract for Difference Auction Round 4 on energy bills.
	tabling member constituency	Hendon
	tabling member printed	Dr Matthew Offord
	uin	2457
	answer	answer is ministerial correction date of answer 24/05/2022 answer text <p>The Government is committed to minimising energy costs for businesses and consumers. Contracts for Difference offer value-for-money to consumers and continue to deliver low prices. For example, between the first allocation round in 2015 and the last round in 2019, the price per unit (MWh) of offshore wind fell by around 65%.</p><p> </p><p>Competitive auctions are proven to be effective in helping to keep costs down and this year’s auction has been designed to keep the allocation process highly competitive. The impact will be dependent on the outcome of the competitive auction process; it is expected that this year’s round will have a small impact on household bills.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 24/05/2022 14:35:01 answering member 1526 label Biography information for Greg Hands
	tabling member	4006 label Biography information for Dr Matthew Offord