§ 24. Mr. Phillip Oppenheimasked the Secretary of State for Energy what consideration he is giving to the impact of the level of energy costs borne by industry in the United Kingdom, compared with those of other Organisation for Economic Cooperation and Development countries in the past 12 months.
§ Mr. Peter WalkerI refer my hon. Friend to the answer which I gave to him on this subject on 14 April this year at column 260. Energy prices in this country, as elsewhere, have continued to fall in response to world market conditions. For example, the recent conclusion of a commercial agreement with the coal industry has allowed the electricity supply industry to announce immediate reductions in electricity prices to monthly-billed industrial consumers of about 5 per cent., and of about 7 to 8 per cent. for larger consumers with load management arrangements. There have also been downward movements in gas prices to industry, reflecting competitive pressures from oil products.