Bulb Energy: Administration Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Philip Hollobone
Main Page: Philip Hollobone (Conservative - Kettering)Department Debates - View all Philip Hollobone's debates with the Department for Business, Energy and Industrial Strategy
Bulb Energy: Administration
Philip Hollobone Excerpts(3 years ago)
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Kwasi Kwarteng
I will answer the hon. Gentleman’s latter question. There is no Government bail-out; the poor, failing companies have not been bailed out—I want to reiterate that. If he knows anything about the energy market, he will know that over the last few years, six or seven companies have exited the market and were dealt with through the supplier of last resort process. The stresses of this particular gas price situation—which, I remind hon. and right hon. Members, quadrupled in the last six months—meant that there was more pressure this year, but the system and structure of the supplier of last resort process and the special administrative regime are working.
Mr Philip Hollobone (Kettering) (Con)
The Kettering parliamentary constituency generates enough renewable energy from wind and solar to power all 45,000 local homes, and is one of the greenest constituencies in the whole country. If we are to reduce our exposure to volatile international gas prices, is it not crucial that we do more to diversify our source of supply?
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.