Clause 5
Energy Bill
1:45 pm
Malcolm Wicks (Minister of State (Energy), Department for Business, Enterprise & Regulatory Reform; Croydon North, Labour)
That raises an important point. My off-the-cuff response would be that Ofgem, the regulator, would be able to look at those aspects. Ofgem is not the regulator for offshore installations and all that—not the ones that we are discussing here—but we have a regulator of the market and its effective operation is in place. The regulator will need to be mindful of the changing territory, both literally and metaphorically, in relation to this matter. I understand the hon. Gentleman’s example of gas storage. Effectively, although it is new territory, normal competition rules would apply, which is what I said in a less prÃ(c)cised way a few moments ago.