§ Dr. CableTo ask the Secretary of State for Trade and Industry if she will make a statement on the change in(a) the wholesale price of electricity and (b) the price of electricity charged to retail customers since 1998. [88049]
§ Mr. Wilson[holding answer 19 December 2002]: Since 1998 the month ahead baseload prices for electricity supplied by generators to energy suppliers have fallen by 40 per cent. in real terms up to March 2002.
The average price of electricity charged to domestic customers has fallen by 11 per cent. in real terms between Q3 1998 and Q3 2002, while that for industrial customers (excluding the Climate Change Levy) has fallen by 23 per cent. in real terms between Q2 1998 and Q2 2002. Domestic customers who switch electricity supplier can save more. At the end of March 2002 over one third of domestic customers were with suppliers other than their traditional home supplier, saving on 245WS average around £23 (9 per cent.) on an annual electricity bill in 2002 compared to customers remaining with their traditional home supplier.