Bulb Energy: Administration Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Chris Bryant
Main Page: Chris Bryant (Labour - Rhondda and Ogmore)Department Debates - View all Chris Bryant's debates with the Department for Business, Energy and Industrial Strategy
(3 years, 1 month ago)
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Kwasi Kwarteng
I mentioned in my initial response to the urgent question that consumer balances will be protected throughout the process.
Chris Bryant (Rhondda) (Lab)
The Secretary of State keeps on saying that it is all working, but to be honest, it does not feel like it is. I do not think that I have ever seen such an example of Government complacency at the Dispatch Box as bad as this. The truth of the matter is that millions of people are worrying about what their bills are going to be, businesses are going to struggle and 22 companies have gone under. How on earth is that, “Yes, it’s all working perfectly”? Will he please answer one simple question, to which taxpayers will want to know the answer: how much is the Government bail-out going to be in the end?
Kwasi Kwarteng
I will answer the hon. Gentleman’s latter question. There is no Government bail-out; the poor, failing companies have not been bailed out—I want to reiterate that. If he knows anything about the energy market, he will know that over the last few years, six or seven companies have exited the market and were dealt with through the supplier of last resort process. The stresses of this particular gas price situation—which, I remind hon. and right hon. Members, quadrupled in the last six months—meant that there was more pressure this year, but the system and structure of the supplier of last resort process and the special administrative regime are working.