Baroness Hayman
Main Page: Baroness Hayman (Crossbench - Life peer)
Lord Wilson of Sedgefield (Lab)
I thank the noble Lord for that question. We had a comprehensive review involving Ofgem in December to discuss this issue. We know that too much of the burden of the bill is placed on standing charges. We are committed to lowering the costs of standing charges and have worked constructively with the regulator, Ofgem, on this issue.
Baroness Hayman (CB)
My Lords, I declare my interest as a director of Peers for the Planet. Does not the conversation that has just gone around the House illustrate clearly that there are a number of serious issues with the cost of electricity that need to be looked at in a comprehensive way? As has been said, we need to look at decoupling it from gas prices, the tariffs and the effect of zonal pricing—if it comes in, and many people have suggested it. When are the Government going to look at all those issues in the round? Is that something the REMA review will do, and when will we hear the results of it?
Lord Wilson of Sedgefield (Lab)
We will hear from the REMA review in due course. We take this issue very seriously and we will be looking at all the factors the noble Baroness has mentioned. When we have reached a conclusion, we will come back to the House.