Fuel Poverty

Lord O'Neill of Clackmannan Excerpts

Thursday 28th January 2016 Lords Chamber

[Lord Bourne of Aberystwyth]

My Lords, yes, of course it is; I share that sentiment. It is a problem throughout the United Kingdom, not just in England, and it is being addressed by the Governments of the respective parts of the kingdom. That is why we are focusing, with the sole consideration of fuel poverty, on the recast energy company obligation, which will be in force by 2018. I think that the whole House should take pleasure in, and credit for, that.

[Lord O'Neill of Clackmannan (Lab)]

The reduction in gas prices that has been announced by the energy utilities is welcome, but is it in fact the maximum that they could cut, given the dramatic fall in the price of both oil and gas? Are the Government monitoring the situation to ensure that consumers get early redress in relation to what has been a high price level for too long in this area, given that basic gas prices are considerably lower now than they were when the prices were first set?

[Lord Bourne of Aberystwyth]

My Lords, the noble Lord will be aware that my right honourable friend the Secretary of State has indicated that we are looking to the energy companies to reduce their prices. Two of them, E.ON and SSE, have today announced reductions and we are looking to others to do the same. We also await the outcome of the CMA report, as I have indicated. We hope that it is a robust report because we are very much on the side of the consumer and want bills to be affordable.