Oral Answers to Questions

Debate between Andrea Leadsom and Rob Marris

Thursday 14th July 2016 Commons Chamber

[Andrea Leadsom]

The CMA has said that the energy sector for larger businesses is competitive, but it has put forward some strong and sound remedies for microbusinesses to prevent automatic roll-overs without a business’s consent and to improve online quotations, competition and the service available to microbusinesses.

[Rob Marris (Wolverhampton South West) (Lab)]

The Government have guaranteed an electricity price of about three times the wholesale price to EDF so that it will build a nuclear white elephant at Hinkley Point C. How on earth will that help consumers—businesses or households—to reduce their energy bills?

[Andrea Leadsom]

I am sure that the hon. Gentleman knows that we get about 16% of our electricity every day from nuclear. He will also know that our nuclear plants are all due to be retired by at least the end of the 2020s. Therefore, new nuclear forms a core part of how we replace our electricity supplies. Hinkley is a good deal for consumers. Of course, the mark-to-market costs change according to the wholesale prices, but the price of the electricity coming out of Hinkley by the mid-2020s is guaranteed, and that is very important so that we provide certainty. The Government do not take the view that we will just see what happens; we have to plan for the future. Why? Because electricity security is not negotiable.