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Energy Bill

I think Ofgem estimates that 8 per cent. of the meter stock is changed every year, and that is not far from the 10 per cent. that is being recommended. In Committee, the Minister said that the costs could be between £10 billion and £20 billion, and he has now brought that down to between £8 billion and £14 billion. That shows great progress. Ofgem also estimates that the meters would cost between £70 and £90 each, so 47 million would cost about £4.5 billion. Does the Minister think that he might be able to get his costs down a little further on that point, too?