Jim Cunningham – 2016 Parliamentary Question to the Department for Business, Energy and Industrial Strategy

The below Parliamentary question was asked by Jim Cunningham on 2016-07-13.

To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 12 July 2016 to Question 42023, whether his Department has made an assessment of the potential effect of exchange rate fluctuations following the EU referendum on the (a) cost to the UK of importing energy and (b) levels imported; and if he will make a statement.

Jesse Norman

The Department has not made an assessment of the potential effect of exchange rate fluctuations on the levels or cost to the UK of imported energy following the EU referendum.

It is too early to speculate on any resulting medium and long-term exchange rate fluctuations. Furthermore, exchange rates are only one of the factors that will influence volumes and costs of imported energy.