Domestic Gas and Electricity (Tariff Cap) Bill

Part of the debate – in the House of Commons at 3:26 pm on 6th March 2018.

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Photo of John Penrose John Penrose Conservative, Weston-Super-Mare 3:26 pm, 6th March 2018

The right hon. Lady is one of the co-organisers of the letter, and I thank her again for her help. No matter how clever, good and high calibre the committee, people are just not as good as the market at price discovery, provided the market runs properly. When she was shadow Secretary of State for Energy and Climate Change, I heard her talk about having to get a better energy market with better price discovery and having to re-establish an energy pool precisely because of that point. Ofgem, no matter how hard it tries or how well intentioned it may be, just will not get it right a large proportion of the time.