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Energy: Gas Prices

Volume 705: debated on Wednesday 19 November 2008

asked Her Majesty's Government:

What incentives they propose for companies to reduce the cost of natural gas. [HL5793]

The main incentive for companies to minimise the price of natural gas is the knowledge that they are operating in a competitive market, with an effective economic regulator to protect the interests of consumers. The Government are doing their part by seeking to ensure fit-for-purpose consents regimes for new gas import and storage facilities through the Planning and Energy Bills now before Parliament and by working for open and competitive international energy markets in the EU and beyond.