Topical Questions

Part of Business, Energy and Industrial Strategy – in the House of Commons at 12:00 am on 7th November 2017.

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Photo of John Penrose John Penrose Conservative, Weston-Super-Mare 12:00 am, 7th November 2017

Dieter Helm’s recently published “Cost of Energy Review” says that

“the prices of oil, gas and coal have fallen…contrary to the modelling and forecasting of both the Department of Energy &
Climate Change…and the Committee on Climate Change”.

He means that however hard they try and however worthy their intentions, mandarins and regulators are rubbish at discovering or predicting energy prices. Does my right hon. Friend agree that the provisions for the draft Bill’s absolute energy price cap, which would require mandarins and regulators to meet twice a year to pick a number, would repeat the same mistakes so should be replaced by something more closely linked to the few competitive energy prices that already exist?