Energy Price Cap Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Ian C. Lucas
Main Page: Ian C. Lucas (Labour - Wrexham)Department Debates - View all Ian C. Lucas's debates with the Department for Business, Energy and Industrial Strategy
Energy Price Cap
Ian C. Lucas Excerpts(6 years, 10 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
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Greg Clark
My hon. Friend, who is well informed about such issues, is absolutely right. The opportunity that smart meters bring is that people can have much more knowledge and control of their energy use, and use that to get the best deals available. That is why the roll-out of smart meters is such an important part of our reforms to the energy market.
Ian C. Lucas (Wrexham) (Lab)
But does the outcome of the CMA inquiry not tell the Secretary of State, as a reasonable man, that this is the end of the road for the system? Privatisation did not work, the regulatory system has not worked, and we have had to have a CMA inquiry. What is needed is a fundamental reappraisal and change of this whole energy edifice?
Greg Clark
I am surprised to hear implicit support from the hon. Gentleman for the programme of nationalisation of this sector that the Labour party stood on. The billions of pounds that that would cost would not be the most important use of funds. This has been a regulated industry since privatisation many years ago, and the regulation needs to function better than it has.