Bulb Energy: Administration Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Peter Grant
Main Page: Peter Grant (Scottish National Party - Glenrothes)Department Debates - View all Peter Grant's debates with the Department for Business, Energy and Industrial Strategy
(3 years, 1 month ago)
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Kwasi Kwarteng
Absolutely. My hon. Friend will be happy to realise that that is exactly what we are doing through the 10-point plan, with commitments to offshore wind, solar power, nuclear power and other technologies. It is a huge imperative for us—and for me as Secretary of State—to ensure that we have a diversity of supply.
Peter Grant (Glenrothes) (SNP)
Bulb was the seventh largest energy supplier in the United Kingdom. How much bigger does a supplier have to be before it is too big to be allowed to fail? What are the Secretary of State and his Cabinet colleagues going to do to ensure that the cost of this market failure is not borne by ordinary families, who are already struggling to pay their fuel bills this winter?
Kwasi Kwarteng
The hon. Gentleman makes a point about Bulb. It was a very large company, which is precisely why the supplier of last resort was not felt to be an appropriate mechanism in this instance. [Interruption.] Hon. Members chunter from a sedentary position. The solution is the special administrative regime, which I outlined—I hope, clearly—in my initial statement.