Caroline Flint – 2014 Parliamentary Question to the Department for Energy and Climate Change
The below Parliamentary question was asked by Caroline Flint on 2014-04-29.
To ask the Secretary of State for Energy and Climate Change, pursuant to his oral contribution of 2 April 2014, Official Report, column 906, on energy price freeze, what the evidential basis is for the statement that energy bills rose by (a) 11 per cent a year in the last parliament and (b) 8 per cent a year in the current Parliament.
Michael Fallon
The table below shows the level of the domestic fuels component of the Consumer Prices Index (CPI) at the start of the last parliament, the start of the current parliament, and for the latest available data point.
|
Date |
Domestic fuels component of CPI |
|
May 2005 |
59.4 |
|
May 2010 |
99.2 |
|
March 2014 |
133.5 |
The following table shows the annual compound growth rate in the domestic fuels component of the CPI in each parliament.
|
Interval |
Average annual increase in domestic fuels component of CPI (%) |
|
May 2005 to May 2010 |
10.8 |
|
May 2010 to March 2014 |
8.0 |
The domestic fuels component of the CPI is a weighted combination of gas, electricity, heating oil and solid fuel prices. It is compiled by the Office for National Statistics and tracks how domestic energy prices change over time.
The compound growth rate shows the average year on year percentage change over the period and is used in relation to energy price increases as they are defined in proportional terms.
This data is made available in table 2.1.3 of the DECC publication Quarterly Energy Prices, which can be found online at the link below:
https://www.gov.uk/government/statistical-data-sets/monthly-domestic-energy-price-stastics
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