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 am not sure that I would give them the excuse of exchange rate movements. The Competition and Markets Authority has said that suppliers have unilateral market power over this part of their customer base. This is a regulated market. Ofgem has the powers to introduce and extend the price gap, and my view is that it should use those powers now.