Annual Energy Statement

Christopher Pincher Excerpts

Thursday 31st October 2013 Commons Chamber

[Mr Davey]

We are helping the fuel-poor and people who have problems with their bills through, for example, the warm home discount, which takes £135 off bills. We are publishing a guide. I hope that the hon. Gentleman and every right hon. and hon. Member will use it to help their constituents.

The hon. Gentleman talks about the wholesale market. The previous Government did nothing on competition in the wholesale market; they made it worse. This Government, with Ofgem, which Labour Members want to abolish, are taking measures to ensure there is far more competition in the wholesale markets. That is how to prevent the big six and their vertical integration models from pushing up prices. The Liberal Democrats are the party of competition; Labour is the party of the big six.

[Christopher Pincher (Tamworth) (Con)]

Most observers agree that, thanks to the previous Government’s omissions, we must invest a great deal of money—£110 billion—very quickly in our energy infrastructure. We want much of that money to come from the private sector. Does my right hon. Friend agree that another consequence of a price freeze would be that such private investment dried up, leaving the poor old taxpayer to foot the bill?

[Mr Davey]

My hon. Friend is absolutely right. There are many problems with Labour’s energy price freeze. First, it is a con because it will not help consumers. Secondly, it undermines competition. However, worst of all in many ways, it will kill the investment that we need both for green energy and to keep the lights on. People in the energy industry are saying that. The Leader of the Opposition has done one of the most irresponsible things ever done by a Leader of the Opposition.