Energy Price Freeze

Debate between Ed Davey and Chris Ruane

Wednesday 6th November 2013 Commons Chamber

[Dr Whitehead]

The Secretary of State has been waving a document around. Can he turn to the page in that document that discusses netting off between companies in the long-term market? Can he turn to the page in that document that discusses the question of creating trades at time of closure by companies? If he cannot do so, will he accept that the document is not quite the panacea for all the transparency issues that he thinks it is? Will he go away and review the things that the document does not say as well as what it does say about the transparency of the market?

[Chris Ruane (Vale of Clwyd) (Lab)]

He knows his stuff!

[Mr Davey]

I agree that the hon. Member for Southampton, Test (Dr Whitehead) does know his stuff, unlike many of his colleagues.

[Chris Ruane]

Answer the question!

[Mr Davey]

I am going to answer the question. When the hon. Member for Southampton, Test reads this paper, he will know that it is in a series of papers and other papers deal with those issues. The relevant paragraph—it does not deal with netting off, but it deals with the impact of netting off—is on page 7. The right hon. Member for Don Valley should like this, because we have some agreement on the need to make sure there is competition in the wholesale markets. It states:

“It could also encourage business models that reduce the need to trade in the wholesale market, such as vertical integration and long-term contracts. Poor liquidity therefore inhibits competition between incumbent players in the market.”

In other words, we need these proposals so that there is more competition in the forward markets so that new entrants can come in and the prices that the incumbents charge are more transparent—something that the right hon. Lady says that she wants to see.

Oral Answers to Questions

Debate between Ed Davey and Chris Ruane

Thursday 17th February 2011 Commons Chamber

[Chris Ruane (Vale of Clwyd) (Lab)]

What is the Minister’s definition of the big society, and what role is his Department playing in it?

[Mr Davey]

I believe that the whole point of the big society is to give people the permission and the support to engage in their local community and to show responsibility. I would have thought that the hon. Gentleman and other Opposition Members supported something that plays to the best traditions of our country.