Energy Price Cap Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Mike Wood
Main Page: Mike Wood (Conservative - Kingswinford and South Staffordshire)Department Debates - View all Mike Wood's debates with the Department for Business, Energy and Industrial Strategy
(7 years, 4 months ago)
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Greg Clark
This is a wake-up call for the industry. A model in which consumers who are known not to switch can be milked to pay a subsidy for other consumers in an unfair way—the CMA identified “unilateral market power”, which enables firms to exploit their position—has to come to an end.
Mike Wood (Dudley South) (Con)
While I welcome proposals to make it easier to switch away from poor deals, does my right hon. Friend agree that Ofgem needs to go much further than it suggested in its letter to him this morning to protect consumers from exploitation?
Greg Clark
There is a clear expectation that I want the detriment that the CMA has identified to be tackled once and for all. Ofgem has said that it will consult consumer groups, and I hope and expect that those consumer groups will share my hon. Friend’s analysis.