I do not think that the hon. Gentleman is correct, but if he is I shall be happy to make representations to Ofgem, because we need the fullest information possible for consumers. That is what Ofgem's planned annual statement is designed to do, and, as it is coming in next year, I am sure that there will be time to influence it.
Let me list three things that the Energy Bill will do. First, it will make social price support mandatory. At the moment, vulnerable customers rely on a voluntary system to receive a reduced rate on energy. The voluntary systems mean that more than 1 million customer accounts have benefited from lower prices, but I fully acknowledge that we need to do more, and that is why we will make compulsory that support and increase the available amount of social price support.
Secondly, the regulator needs stronger powers to deal with abuse, and the Bill will specifically act to prevent the exploitation of market power by energy generators. Thirdly, not only do we need stronger powers for the regulator but we need the regulator to use them, so the Bill will change Ofgem's remit to reflect the fact—this is very important—that relying on competition alone is insufficient if we are to provide the consumer protection that we need. My message is very clear—the regulator must step in proactively where competition is not sufficient to protect the interests of consumers. We will make that very clear.
Energy and Climate Change and Environment, Food and Rural Affairs
Proceeding contribution from
Ed Miliband
(Labour)
in the House of Commons on Tuesday, 24 November 2009.
It occurred during Queen's speech debate on Energy and Climate Change and Environment, Food and Rural Affairs.
Type
Proceeding contribution
Reference
501 c412 
Session
2009-10
Chamber / Committee
House of Commons chamber
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2023-12-08 16:28:30 +0000
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