§ Mr. McCuskerasked the Secretary of State for Energy when and why he revised upward his estimate of future real growth in energy prices to the end of the century from 3 to 4 per cent. per annum; and what are the anticipated consequences for public domestic consumers of gas, electricity, oil and coal and for the rate of depletion of North Sea gas and oil.
§ Mr. GrayMy Department keeps prospects for energy prices under continuing review. In the case of oil there are considerable uncertainties both about the level which prices might reach by the end of the century and the path which will be followed. The range of uncertainty embraces both figures mentioned in the hon. Members's question. The price of oil is important for depletion policy and influences the terms of competition between fuels in the energy market. But many other factors also enter into the prices of the other fuels and no unique relationship with world oil prices can be assumed.