Oral Answers to Questions Debate
Full Debate: Read Full DebateMatthew Pennycook
Main Page: Matthew Pennycook (Labour - Greenwich and Woolwich)Department Debates - View all Matthew Pennycook's debates with the Department for Business, Energy and Industrial Strategy
(6 years, 3 months ago)
Commons ChamberThe hon. Gentleman makes a very valid point. We want the prompt payment code to be fit for purpose and for it to do what it says on the tin. That is why I am in discussions on the prompt payment code and why the Chancellor said in the spring statement that we would consult on late payments. He wanted to end the scourge of late payments, because this is so important for small businesses up and down the country.
A formal assessment has not yet been made, but the hon. Gentleman and I have exchanged correspondence on this important issue. It is vital that we create a market framework that works to deliver the benefits of energy cost reduction and carbon reduction from these networks but that protects consumers. I know he has a passionate interest in this, given the eight networks already operating in his constituency.
Not a month goes by in which I do not receive scores of emails from desperate constituents who are paying over the odds and are ill served by district heating networks. They are not getting a fair deal and cannot afford to wait for the Competition and Markets Authority’s partial market study to report. For their sake, I urge the Minister to give serious consideration to introducing statutory regulation now. Will she meet me to discuss the issue?
I am always happy to meet the hon. Gentleman, as he knows. It is interesting, because on average consumers are paying less and have the same level of satisfaction as they have with other heating options. Well designed and well regulated frameworks can really deliver a benefit for consumers, which is why we are investing more than £300 million, but the hon. Gentleman and I should get together to discuss his constituents’ particular concerns.