Energy Price Cap

Part of the debate – in the House of Commons at 3:36 pm on 3rd July 2017.

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Photo of Greg Clark Greg Clark The Secretary of State for Business, Energy and Industrial Strategy 3:36 pm, 3rd July 2017

I have seen that. This two-year inquiry conducted by the CMA identified £1.4 billion of detriment, which is a huge amount of money. When our constituents see the difference—it can be up to £100 a year—that they pay for a dual fuel bill by being on a dual fuel tariff, they know that that is significant amount.

The CMA said that suppliers have “unilateral market power” over their inactive customer base and could exploit their position by pricing their SVTs above a level that could be justified. That cannot go on.