Energy: Tariffs

Lord Phillips of Sudbury Excerpts

Thursday 13th December 2012 Lords Chamber

[Baroness Verma]

My Lords, I do not quite know how the noble Baroness can predict what the Energy Bill will do until it arrives. When it arrives, I am sure that we will have long discussions over it. She misses out the point that the Energy Bill has brought certainty for investment. It will create a lot of jobs and ensure that consumers are at the heart of energy policy.

[Lord Phillips of Sudbury]

My Lords, does my noble friend agree that it is a sad if not tragic reflection on the state of big business today that one has to introduce legislation to prevent it engaging in premeditated deception of the most vulnerable consumers?

[Baroness Verma]

My noble friend speaks as many people feel: there is much that we need to do for the consumer. However, he will also be aware that energy bills have been rising because of wholesale prices rising, a matter over which we have very little control. Many of the increases that have taken place have occurred because of wholesale prices and not because energy companies here are raising prices.