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Energy Prices

I beg to move,"That this House believes that the energy market does not serve the public interest and is in need of urgent reform; notes with concern research by OFGEM showing that average household energy bills have risen, while energy companies' profit margins have soared; recognises that, with a cold winter forecast and Government support cut, millions of families will struggle to heat their homes; believes that energy tariffs are confusing and unfair, meaning that 80 per cent. of people currently pay more for their energy than they need to, and that consumers who try to switch are often given inaccurate information; further believes that to tackle climate change, build a new low carbon economy and make the UK a world leader in green energy, which will bring new industry and jobs to the UK, people need to know that the energy market is fair; and calls on the Government to investigate mis-selling and ensure consumers are compensated, introduce a simple format to be applied across all tariffs, so that people can compare the full range of energy deals at a glance, increase transparency by requiring energy companies to publish their trading data, reform the energy market to break the dominance of the Big Six by requiring them to sell power into a pool, allowing new businesses to enter the market, increasing competition and driving down energy bills for families and businesses, and demand that energy companies use their profits to help reduce energy bills this winter." I am pleased to move this Opposition day motion, and it is good to see the Secretary of State in his place this afternoon; we were all concerned for his well-being after his no-show on ““Newsnight”” on Monday. It was the day of that amazing energy summit, yet he was nowhere to be seen. That tells us just how well the summit went. As today's report on fuel poverty highlights, the stakes could not have been higher: according to the National Grid Company's forecast last week, this winter could be as bitter as last year, which saw the coldest December on record. Moreover, energy bills have risen by more than 20% this year alone, driving inflation to the second highest level in Europe, and have risen by more than 50% in the past four years, which means that the average family is now paying £1,345 a year just to keep the lights on and the house warm. That matters. People do not have a choice about whether to consume energy. At the same time as more than one quarter of families are struggling to afford their energy bills, more price rises are on the horizon and more families are worried about how they will make ends meet, yet energy companies are enjoying soaring profits. On Monday the Secretary of State got the big six energy firms, which between them control 99% of the market, into the same room. With them were consumer groups such as Which? and Consumer Focus. It was the ideal opportunity to get a grip on spiralling energy bills, but what was the big idea? What was the bold plan? What was the new policy? We were given two words that will strike terror into the hearts of the big six energy firms, two words that will give reassurance to millions of families worried about how they are going to heat their homes this winter: ““Go compare””. I honestly thought that the Prime Minister was going to come dressed as the opera singer Gio Compario and force the summit's reluctant audience to endure a chorus. He might as well have done, for all the good that came out of it. Meanwhile, the Secretary of State could only look on—as the Prime Minister spoke and the public relations shots were taken—reduced to the role of the Prime Minister's meerkat.