Energy Market Reform

Lord Field of Birkenhead Excerpts

Wednesday 24th October 2012 Commons Chamber

[Mr Davey]

I could not agree more. We want to ensure that all people can access the best deal, whether or not they are online. That is why we have made the voluntary agreement and why we will take powers in the forthcoming Energy Bill to ensure that the energy companies have to inform people of the best deal. As I will set out in my speech, we want to enable the poorest people in our society to get the help they need, whether about switching, competition or energy insulation.

[Mr Frank Field (Birkenhead) (Lab)]

Every poorer person will be pleased with the subsidy that other consumers are paying for, but probably 75% of them are paying way beyond what they need to pay. It is great for people to have a subsidy, but that subsidy may, and probably will, be wiped out by the price that those companies charge. There is a redistribution—quite rightly—from those of us who are better off to those who are less well off, but the money goes not towards extra fuel for our poorest constituents, but into the coffers of the companies. Surely there needs to be a combination with the current subsidy. I would go slightly further than my right hon. and hon. Friends on the Opposition Front Bench and ask why the scheme should not be extended to the 4 million people who are eligible for cold weather payments, which we know is the most vulnerable group.