Energy companies questioned on energy price cap
19 December 2017
The Business, Energy and Industrial Strategy (BEIS) Committee questions witnesses from E.ON, Centrica and SSE and also representatives from small and medium-sized energy companies as part of the Committee's pre-legislative scrutiny of the Government's draft bill to cap energy prices.
- Watch Parliament TV: Pre-legislative scrutiny of the draft Domestic Gas and Electricity (Tariff Cap) Bill
- Inquiry: Pre-legislative scrutiny of the draft Domestic Gas and Electricity (Tariff Cap) Bill
- Business, Energy and Industrial Strategy Committee
Likely impact of the legislation
The Committee's pre-legislative scrutiny of the Government's Draft Domestic Gas and Electricity (Tariff Cap) Bill involves examining the objective, provisions, and likely impact of the legislation. The Committee will be holding public evidence sessions in December and January as part of this inquiry before producing a final report.
The session is likely to examine suppliers' views on the impact that price controls will have on their capacity to operate efficiently and innovate. The session is also likely to explore the recent announcements made by big suppliers regarding Standard Variable Tariffs, the positions of small suppliers on the Bill, and concerns about loopholes in the draft legislation, including the exemption of 'green' electricity tariffs, which may leave consumers unprotected.
Millions of customers paying too much
Rachel Reeves MP, Chair of the Business, Energy and Industrial Strategy Committee, said:
"The energy market isn't working. Millions of customers are paying too much for their energy, with 12 million customers stuck on Standard Variable Tariffs and being hit in the pocket for their loyalty.
It's increasingly clear from our evidence that there is a lack of progress in tackling the issue of SVTs and that more needs to be done to reduce consumer bills.
On Tuesday, we will have the opportunity to question some of the big energy companies, who oppose an energy price cap, and also quiz medium-and-small energy companies on the Government's proposals.
As a Committee, we will be determined to play our role in ensuring this draft Bill is as effective as it can be in delivering on the Government's promise to deliver lower energy bills for consumers."
Tuesday 19 December 2017, Committee Room 5, Palace of Westminster
- Sarwjit Sambhi, Managing Director UK Home, Centrica plc
- Michael Lewis, Chief Executive Officer, E.ON UK
- Ed Kamm, Chief Commercial Officer, First Utility
- Stephen Forbes, Chief Commercial Officer, SSE
- Peter Haigh, Chief Executive Officer, Bristol Energy
- Hayden Wood, Co-Founder, Bulb
- Patrick New, Managing Director, Ecotricity
- David Bird, Chief Executive Officer, Co-op Energy