Energy Markets Competition Assessment

Lord Stunell Excerpts

Thursday 27th March 2014 Commons Chamber

[Mr Davey]

It is always nice to have charm in the House. I have to tell the hon. Gentleman that Labour’s proposals include introducing a pool. The problem is that the day-ahead market, which is like the pool, has grown dramatically under this Government. That is one of the reasons why I said that Labour’s policies are absolutely flawed: because the Opposition have not looked at what is actually happening. Indeed, I asked the right hon. Member for Don Valley (Caroline Flint) in that debate whether she had read the report and it was clear that she had not. That is one of the reasons why we think Labour’s policy proposals are flawed.

[Sir Andrew Stunell (Hazel Grove) (LD)]

As a Liberal Democrat, I very much welcome today’s statement and the vigorous way in which the Secretary of State set about it. Does he share my view that it is amazing that Labour, having set up both the big six energy companies and Ofgem to regulate them, should now be so grudging about his taking the action necessary to ensure that consumers get a fair deal?

[Mr Davey]

My right hon. Friend is absolutely right. The Labour party created the big six, and now it seems to be worried about the fact that we are trying to take action. Its policy would entrench the big six, and would undermine the competition that we have delivered. The Labour party set up Ofgem, and now it wants to abolish it. People listening to the Labour party and looking at its record must be astonished that it has the gall even to pretend that it has a sensible energy policy.