Trade and Industry
Malcolm Wicks (Minister of State, Department of Trade and Industry; Croydon North, Labour)
It is not practical to make an assessment of the level of gas that would flow into the UK as a result of European liberalisation. A liberalised market would lead to increased imports and exports of gas between the UK and Europe in turn leading to more efficient allocation of resources and potential benefits to consumers in both UK and continental Europe. In particular improved liquidity of gas in European markets could provide incremental gas in times of demand peaks and lead to a reduction in price volatility in the longer term.