Energy Price Cap Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Oliver Letwin
Main Page: Oliver Letwin (Independent - West Dorset)Department Debates - View all Oliver Letwin's debates with the Department for Business, Energy and Industrial Strategy
Energy Price Cap
Oliver Letwin Excerpts(6 years, 10 months ago)
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Sir Oliver Letwin (West Dorset) (Con)
I have been listening carefully to my right hon. Friend’s answers. Am I right to understand that he would not be satisfied with a final solution from Ofgem that continued to cross-subsidise some customers out of a kind of loyalty premium paid by those who, even if not vulnerable, did not switch?
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.