Gas Prices and Energy Suppliers
Debate between Gareth Davies and Kwasi Kwarteng(3 years, 1 month ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
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Kwasi Kwarteng
As I said, it has been a consistent feature over the past few years that energy companies have failed and left the market. We have a process to deal with that, the supplier of last resort. I categorically say to the House that we will not be giving any grants or subsidies to larger companies.
Gareth Davies (Grantham and Stamford) (Con)
I welcome the Government’s market-led approach. The CBI has been clear in saying that Labour’s plans to renationalise our UK energy network would result in higher household bills. Does my right hon. Friend agree that it could also threaten UK energy supplies?
Kwasi Kwarteng
Any Labour plan to nationalise the industry would be a step back into the dark ages and would be a disaster for this country’s reputation as a hub of international capital and investment.