Financial Conduct Authority: Loyalty Penalties in Insurance Market.

Part of Treasury – in the House of Commons am ar 20 Rhagfyr 2022.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of John Glen John Glen The Chief Secretary to the Treasury

I am very happy to look at that question further. The Government previously considered, but rejected, asking Ofgem to implement a relative rather than an absolute price cap in energy markets, which would have similarly prevented energy suppliers from charging those large differentials, because it was judged that it was more likely to distort competition in the fixed-term tariff market. As ever, I am happy to continue the conversation with my hon. Friend and I know he will take the matter up further with the regulator.