David Mowat
Main Page: David Mowat (Conservative - Warrington South)(11 years, 6 months ago)
Commons ChamberRead Full debate Read Hansard Text
Mr Davey
Ofgem has a daily role to monitor energy markets and make sure that they operate properly. In that normal process, it encounters a number of allegations. These will not have been the first allegations that it has received. Ofgem does not announce every particular allegation; it has to go through a proper process. Now there appears to be some evidence backing these allegations, but the reason we have an independent regulator is to allow it to get on and do the investigation. I suggest that that is exactly what we should do.
David Mowat (Warrington South) (Con)
First LIBOR and now—potentially—this. Are there other indices at which we should be looking proactively without waiting for whistleblowers to suggest market abuse?