Oral Answers to Questions

Mark Pawsey Excerpts

Tuesday 22nd February 2022 Commons Chamber

[Kwasi Kwarteng]

I am not going to take any lectures from the hon. Gentleman about energy policy. His party is committed to a job-destroying coalition with the Greens, who want to switch the lights off the North sea. Everybody knows that; that is why investment is very difficult to attract, and our job is to militate against their Extinction Rebellion approach and encourage investment, as my right hon. Friend the Member for Chingford and Woodford Green (Sir Iain Duncan Smith) said, in our North sea.

[Mark Pawsey (Rugby) (Con)]

Jobs in the energy sector depend on an effective market, and that depends on consumers exercising their choice to change supplier, but switching fell by 73% in the year just gone compared with the previous year. What steps is the Secretary of State taking to ensure that we get back to an effective energy market?

[Kwasi Kwarteng]

There has been a critical issue with very high wholesale prices, which as I speak are about 200p a therm, whereas at the beginning of last year they were 50p a therm or lower; there has been a quadrupling of the price. The energy price cap has protected consumers, but we are talking to Ofgem all the time about how we can refine the cap to make it more sensitive to wholesale prices in the market.