Julie Elliott
Main Page: Julie Elliott (Labour - Sunderland Central)(11 years, 2 months ago)
Commons ChamberRead Full debate Read Hansard Text
Michael Fallon
We have not ruled that out for the second stage. A number of proposals have been put to us for new interconnectors, and we are looking at each of them.
Julie Elliott (Sunderland Central) (Lab)
As a result of weak competition and ineffective regulation, electricity prices in Britain—according to the Department’s own figures—are the sixth highest in the EU15, the third highest in the G7 and almost 20% above the EU15 and G7 average. The Minister will know that energy bills are the second biggest cost that businesses face, and that ever higher prices cost jobs and deter investment. Why will he not support Labour’s policy to stop unfair price rises by freezing energy bills until January 2017, saving the average business some £1,800, and reform the energy market to reintroduce competition and rebuild trust?
Michael Fallon
I welcome the hon. Lady to her new responsibilities. I think that the prices she quoted were pre-tax rather than post-tax, but the answer is simple—to bear down on prices, we need more competition. The Labour party left us with the big six. It started with 14 retailers; we ended up with the big six. The answer is more competition, easier switching and ensuring that the most vulnerable people are placed on the lowest possible tariff.