Gas Prices and Energy Suppliers Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Mark Harper
Main Page: Mark Harper (Conservative - Forest of Dean)Department Debates - View all Mark Harper's debates with the Department for Business, Energy and Industrial Strategy
Gas Prices and Energy Suppliers
Mark Harper Excerpts(3 years, 2 months ago)
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Kwasi Kwarteng
Obviously, as usual, the right hon. Gentleman raises a number of issues. We have not been complacent. The whole point about the supplier of last resort process, which was interrogated last year, is that it is an organised, well-established process that can allow existing strong companies to absorb customers and failure. [Interruption.] If he would desist from chuntering from a sedentary position, he might actually hear my answer.
I remember the letter last year. We interrogated, all through the covid process, the systems we had in place. During that period, the supplier of last resort was found to work. So far this year, it has been found to work, so I am not going to try to talk ourselves into exacerbating the crisis.
With regard to the special administration regime, that is something that is in place. Thankfully, we have not had to use that, but the right hon. Gentleman knows as well as many people in this House that it is there should the case arise.
With respect to universal credit, I will say what I said earlier in the week. That is a matter across Government in terms of budgetary responsibility. There will be a Budget at the end of October and there will be plenty of time to discuss that then.
Mr Mark Harper (Forest of Dean) (Con)
May I press the Business Secretary a little on the Government assumptions on pricing? In his evidence to the Business, Energy and Industrial Strategy Committee yesterday, the head of Ofgem appeared to suggest that he expected these high prices to continue for some time. I accept that the Government do not have a crystal ball, but in making policy choices the Government must be making some assumptions about what they think is the most likely path for prices. Can the Business Secretary set those out for the House please?
Kwasi Kwarteng
As I have said repeatedly, I do not have a crystal ball, as my right hon. Friend has suggested, and I do not make predictions about the price but clearly, we prepare for every eventuality. The biggest help for consumers and customers at this current time is the energy price cap, which I have repeatedly stated is staying in place.