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Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Iain Wright
Main Page: Iain Wright (Labour - Hartlepool)Department Debates - View all Iain Wright's debates with the Department for Business, Energy and Industrial Strategy
(7 years, 11 months ago)
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Greg Clark
We certainly will. It is important that the industrial strategy and business policy recognise the strengths of particular places. Yorkshire is a particularly fine example.
Mr Iain Wright (Hartlepool) (Lab)
Two weeks ago, GB Energy ceased trading, affecting 160,000 customers. Credit must go to Ofgem for ensuring that those customers were promptly transferred to another supplier, but does the Secretary of State believe that the regulator’s approach to risk management needs to change? Instead of carrying out little or no assessment of the viability of new entrants and then picking up the pieces if they fall, more rigorous financial health checks need to be undertaken to minimise the risk of failure, disruption to customers and a loss of confidence in switching to new energy providers.