Energy Security Strategy

John Penrose Excerpts
Tuesday 19th April 2022

(1 year, 11 months ago)

Commons Chamber
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Kwasi Kwarteng Portrait Kwasi Kwarteng
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I know that Bristol has a strong tradition of green, carbon-reducing policies. I should be happy to visit the city and see the great work that is being done there. It is a part of the world that I know well from Airbus and other great industrial concerns.

John Penrose Portrait John Penrose (Weston-super-Mare) (Con)
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I congratulate the Secretary of State on this excellent document. May I press him on the review of energy market arrangements and the long-term fundamental reform of the underlying market? Will he reassure me, and others on this side of the House—at the very least—that that will be done in a spirit that will maximise competition and consumer choice to ensure that we make the customer the king and the queen, and that it will include price cap reform?

Kwasi Kwarteng Portrait Kwasi Kwarteng
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All these issues are being looked at. The six-month periods for the price cap are being reviewed, and, as I have said, financial resilience for new entrants will be considered. A subject that has not been mentioned so far is the future system operator and the electricity system operator. That is a remarkable innovation, and I am proud that it is included in the document. I should be happy to talk to my hon. Friend about these matters.