Energy Security Strategy

Debate between Kwasi Kwarteng and John Penrose

Tuesday 19th April 2022 Commons Chamber

[Kwasi Kwarteng]

I know that Bristol has a strong tradition of green, carbon-reducing policies. I should be happy to visit the city and see the great work that is being done there. It is a part of the world that I know well from Airbus and other great industrial concerns.

[John Penrose (Weston-super-Mare) (Con)]

I congratulate the Secretary of State on this excellent document. May I press him on the review of energy market arrangements and the long-term fundamental reform of the underlying market? Will he reassure me, and others on this side of the House—at the very least—that that will be done in a spirit that will maximise competition and consumer choice to ensure that we make the customer the king and the queen, and that it will include price cap reform?

[Kwasi Kwarteng]

All these issues are being looked at. The six-month periods for the price cap are being reviewed, and, as I have said, financial resilience for new entrants will be considered. A subject that has not been mentioned so far is the future system operator and the electricity system operator. That is a remarkable innovation, and I am proud that it is included in the document. I should be happy to talk to my hon. Friend about these matters.

Corporate Transparency and Economic Crime

Debate between Kwasi Kwarteng and John Penrose

Monday 28th February 2022 Commons Chamber

[Kwasi Kwarteng]

I have answered this question before and I say, once again, that not everybody of Russian heritage giving money to any political party is an oligarch. I appreciate that the hon. Lady is not saying this explicitly, but the implication is that they are, and I reject the premise of the question.

[John Penrose (Weston-super-Mare) (Con)]

I warmly welcome these measures, particular the register of overseas entities. As has been widely said, some of us have been waiting for that for a very long time and it is hugely welcome, not just in here, but right the way through civil society outside this place. We cannot sanction an oligarch unless we know where he or she has stashed their money, and this register will make a big difference. May I push the Secretary of State a little further on his response to the question put by my right hon. Friend the Member for Newark (Robert Jenrick) about how long it will take once this new legislation is in place to clean up all the rubbish that is currently on the register, in order to make sure that we have something that is both clean and useful, and we do not have a case of “garbage in, garbage out.”?

[Kwasi Kwarteng]

My hon. Friend makes a very good case. There are two aspects to this. Clearly, there is the immediate signalling aspect, which will affect people’s decisions in the here and now. There is also the task of getting the register up and running, which may take a few months. I am open to working with him to make sure that we do that as quickly as possible.

Bulb Energy: Administration

Debate between Kwasi Kwarteng and John Penrose

Wednesday 24th November 2021 Commons Chamber

[Kwasi Kwarteng]

This is where the hon. Gentleman and I disagree. We are firmly committed to nuclear power; he is against it. We can do two things: we can commit to renewables, as we are doing with our 10-point plan, and commit to 40 GW of offshore wind. I hope that he recognises that we are committed to tidal for the first time in many decades—that is something that he should appreciate. He should also remember that we have the warm home discount and lots of mitigations protecting the most vulnerable customers across the winter and in the next few months.

[John Penrose (Weston-super-Mare) (Con)]

I welcome the Secretary of State’s commitment to making sure that this temporary measure is indeed temporary, and I encourage him to make it as short as possible. I also welcome his commitment to the ongoing use of the price cap, but I urge him when the price cap legislation comes up for renewal in the next 12 months to think very carefully about reform in order to make the price cap much more fit for purpose. At the moment, it is not doing what we need it to do. We have companies going bust and an ongoing problem with the loyalty penalty, which was, after all, one of the key reasons for introducing it in the first place.

[Kwasi Kwarteng]

My hon. Friend will appreciate that Ofgem, as I alluded to in my statement, has already launched a consultation on precisely the issue of the retail price gap. It will be driving that forward and I am sure that his input will be welcome. We have had lots of mitigations to protect the most vulnerable consumers, but we clearly need to have a discussion about the retail market. Ofgem is leading that discussion and my Department is supporting a closer look at the retail market.

Gas Prices and Energy Suppliers

Debate between Kwasi Kwarteng and John Penrose

Thursday 23rd September 2021 Commons Chamber

[Kwasi Kwarteng]

A conference of EU Energy Ministers took place only yesterday to discuss that very problem. Mitigating a quadrupling of the gas price is not a function of storage—that is a complete red herring. One reason why we have less storage is that we have a greater diversity of energy supply, and that is a strength, not a weakness.

[John Penrose (Weston-super-Mare) (Con)]

The Secretary of State is absolutely right to focus on consumers and not to bail out energy firms that got things wrong or are too fragile. However, will he explain how he is dealing with customers currently on capped tariffs with suppliers that have gone bust? Is he encountering any resistance from the firms being asked to take on those customers, who may be arriving as a loss to the acquiring firm?

[Kwasi Kwarteng]

As I have said, we have a supplier of last resort process that has worked well in the past couple of years. It is not my job to state the terms on which customers are absorbed by other companies—

EU Referendum Rules

Debate between Kwasi Kwarteng and John Penrose

Monday 5th September 2016 Westminster Hall

[John Penrose]

I worry about such proposals, because they could create a vehicle for making vexatious claims during a campaign as a way of trying to smear the opposition, whether they were making legitimate or illegitimate comments. The whole point about democratic campaigning in any election, as we all know well, is that if someone says something that we regard as an egregious slur on us, or our party, or on reality—it does not matter—the answer is not to run to the lawyers but to get out there and explain to the voters why what has been said is entirely wrong.

The country has voted to leave the EU. Whether we in this room individually agree with it or not, the decision has been made. If we now decide that we will not leave after all, and that we will hold another referendum instead, the outrage at an out-of-touch political class, deaf to the desire of the people who elected them, will be absolutely shattering.

[Kwasi Kwarteng]

That is precisely the assumption that many remainers had, at least at the beginning—that they would somehow win the second referendum. All the evidence I see, certainly in my constituency, suggests that there would be a resounding defeat for the remainers if we were to go down that route.

[John Penrose]

At a time when, with isolated but notable exceptions in both the Scottish independence referendum and other votes around the country, we as a democracy are suffering from declining turnout and voter registration, we all need to ask ourselves why part of people’s reason for backing the leave campaign was the cry of frustration at our democracy. I can think of nothing more dangerous or corrosive than if we in this place were to say, “We are not listening”, stick our fingers in our ears and refuse to honour the decisive verdict that has been rendered unto us, whatever side we started on in the referendum campaign.