Energy Prices and Profits

Debate between Ed Davey and Gloria De Piero

Wednesday 4th September 2013 Commons Chamber

[Mr Davey]

I will discuss Ofgem in detail later, so I ask the right hon. Gentleman to be patient. I do not accept his party’s position on Ofgem and I will say why not in some detail later.

[Gloria De Piero (Ashfield) (Lab)]

The Secretary of State has mentioned profit levels. Is it not clear that it is not possible to talk about profit levels without also talking about the need for a regulator with teeth? What is the Secretary of State going to do about that?

[Mr Davey]

Actually, when we talk about profit levels, we need to talk about competition. One of the core points of our policy is to increase competition, which the previous Government failed to do. Yes, regulation has a role, and I will discuss that, but competition has a much greater role.

Energy Market Reform

Debate between Ed Davey and Gloria De Piero

Wednesday 24th October 2012 Commons Chamber

[Mr Davey]

I am extremely disappointed that that is the position the right hon. Lady has arrived at. The retail market review last week proposed to reduce and limit the number of tariffs from the massive number that exist at the moment to just four core tariffs. As my right hon. Friend reminded us, he asked the Labour Government to do that just a few years ago, but they did not. Ofgem has acted where the Labour Government did not. It will help to tackle the complexity of multiple tariffs, which have not helped transparency or competition. I am delighted that its plans allow collective switch tariffs to emerge in addition to the core tariffs. I am surprised that she wants to abolish a body that, under this Government, is taking the action that the previous Government failed to take.

[Gloria De Piero (Ashfield) (Lab)]

I have a very simple question for the right hon. Gentleman. Will the Government require energy companies to put all over-75s on the cheapest tariff, which is important in the run-up to Christmas?

[Mr Davey]

I am grateful for the hon. Lady’s question, not least because I was born in her constituency. The Government want to help everybody. I am surprised that she is focusing simply on over-75s. We are acting on over-75s and on all poorer pensioners, because the warm home discount will get £130 off their bills this year. We are taking action.