§ Mr. BellinghamTo ask the Secretary of State for Trade and Industry if she will make a statement on the recent change in the price of natural gas. [140520]
§ Mr. TimmsWholesale spot gas prices rose from 15p a therm in September to a peak of 34p a therm in October (and on 2 December stood at 27.6p a therm). This may reflect seasonal factors.
Ofgem has announced that it is seeking views from industry on the recent increase in wholesale gas prices, and that it is examining the allegations about possible manipulation of wholesales gas prices. In due course Ofgem will determine whether it is appropriate to start a formal investigation.