Energy Bill

I am sure that that is right. Smart meters with a visual display will clearly be interesting for some people but a turn-off for others. Nevertheless, now that we have the technology to look at a minute-by-minute, second-by-second account of our energy use, it is clearly right that we structure the market to ensure that elderly people and those with visual handicaps know that they are getting the best deal. I talked about a wider discussion, and I am keen to discuss the winter fuel allowance. Last year it cost £2.7 billion, and I am not entirely confident that we get the best out of it. Of those who received the allowance, it is estimated that only 12 per cent. were in fuel poverty. We need to make some tough choices about how best to use our resources, and as part of a debate about mandatory social tariffs, Warm Front and Eaga we need to discuss whether the winter fuel allowance is the best way forward. The final part of the Bill deals with, and extends, the role of Ofgem. My respect for Ofgem has grown over the past 12 months, when, under pressure from Government, it has become much more proactive. I welcome its quarterly reports, in which it is interesting to follow the tracks and see the gross margins that have been made by all the energy companies. We must extend Ofgem's role by giving it more investigatory powers and greater responsibilities, to ensure that customers benefit as soon as possible from those powers. The case for going to the Competition Commission has been argued on both sides of the House today. However, let us be clear about this: it would probably take two years for that inquiry to come round, and during that period the big energy companies would not be investing. It is as simple as that. If people want £95 billion or £200 billion of investment, a Competition Commission inquiry would be completely the wrong way to go about getting it. It would stop that investment in its tracks, because companies such as E.ON and RWE would make decisions to invest elsewhere in the world, and we need that finance here. The big issue for us at the moment is the renewal of our generating capacity by 2020. The Bill goes a small way towards achieving that, and I support it, although I am not entirely confident that it is supported throughout the House. I look forward to the debate in Committee, because it is a valuable, if modest, Bill, which could still be improved.