Oil Prices: Rural Consumers

Lord Howell of Guildford Excerpts

Thursday 29th January 2015 Lords Chamber

[Baroness Verma]

My Lords, the noble Baroness’s party had an opportunity for 13 years to change the regulator but did not. We believe that the regulator has been given enough powers to ensure that energy companies are performing and passing on savings. This Government have brought in greater competition. We believe that competition is what will drive down prices. Today we see 20 independent companies competing with the big six—which, of course, was a creation of the party opposite.

[Lord Howell of Guildford (Con)]

My Lords, as and when energy and heating bills and so on do fall, because of far lower crude oil and gas prices, will my noble friend reject the idea that additional taxes, charges and green levies should be piled on to push the price up again?

[Baroness Verma]

My Lords, my noble friend is right to say that we need to look at the impact of all policies, and that is what this Government have done. They have carefully looked at, and responded to, any negative impact of our policies. However, if we are to ensure that we move towards a cleaner environment, then some of those policies have to be met.