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1441467

registered interest
date	15/03/2022
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	Energy: Investment Income
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, with reference to the report entitled Profiting amid the energy crisis: the distribution networks at the heart of the UK's gas and electricity system, published on 14 March 2022, what assessment he has made of the implications for his policies of the report's findings on the level of dividends paid by electricity distribution and gas distribution network operators to shareholders since 2017.
tabling member constituency	Hemsworth
tabling member printed	Jon Trickett
uin	140371
answer	answer is ministerial correction date of answer 23/03/2022 answer text <p>Network regulation is a matter for Ofgem as the energy regulator. While dividends are a matter for the individual companies and are a normal part of returns to equity capital providers, the return on capital network companies can earn is regulated by Ofgem.</p><p> </p><p>Ofgem uses the RIIO price control to establish a regulatory framework which allows network companies to attract the investment they need to ensure a safe, secure and reliable supply of energy while saving consumers money by keeping returns as low as possible. In the most recent price control for gas distribution and electricity transmission RIIO-2, Ofgem has reduced the allowed return on capital to save consumers £2.3 billion over the five-year price control period. Ofgem will propose a similar reduction in allowed returns in the forthcoming electricity distribution price control.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands grouped question UIN 140372 question first answered 23/03/2022 17:03:00 answering member 1526 label Biography information for Greg Hands
tabling member	410 label Biography information for Jon Trickett

1441468

registered interest
date	15/03/2022
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	Energy: Profitability
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, with reference to the report entitled Profiting amid the energy crisis: the distribution networks at the heart of the UK's gas and electricity system, published on 14 March 2022, what assessment he has made of the implications for his policies of the report's findings on the profitability of electricity and gas distribution industries in the UK; and if he will make a statement.
tabling member constituency	Hemsworth
tabling member printed	Jon Trickett
uin	140372
answer	answer is ministerial correction date of answer 23/03/2022 answer text <p>Network regulation is a matter for Ofgem as the energy regulator. While dividends are a matter for the individual companies and are a normal part of returns to equity capital providers, the return on capital network companies can earn is regulated by Ofgem.</p><p> </p><p>Ofgem uses the RIIO price control to establish a regulatory framework which allows network companies to attract the investment they need to ensure a safe, secure and reliable supply of energy while saving consumers money by keeping returns as low as possible. In the most recent price control for gas distribution and electricity transmission RIIO-2, Ofgem has reduced the allowed return on capital to save consumers £2.3 billion over the five-year price control period. Ofgem will propose a similar reduction in allowed returns in the forthcoming electricity distribution price control.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands grouped question UIN 140371 question first answered 23/03/2022 17:03:00 answering member 1526 label Biography information for Greg Hands
tabling member	410 label Biography information for Jon Trickett