§ Mr. Hooleyasked the Secretary of State for Energy if he will take steps to ensure that any excess profits of the gas and electricity industries are applied in part to home insulation and other energy-saving schemes.
§ Mr. Norman LamontNo. However, my right hon. Friend has announced the Government's intention in principle to impose a levy on the British Gas Corporation in respect of gas purchased from the United Kingdom continental shelf under contracts not subject to petroleum revenue tax. This will mean that some of the financial benefits which would392W electricity users were written off by the British Gas Corporation and the Electricity Council for the years 1975 to 1979; and if he will make a statement.
§ Mr. Norman LamontThe domestic gas bad debts written off by the British Gas Corporation in respect of the financial year ended 31 March 1976 and subsequent financial years are listed below. Prior to the financial year 1975–76 there was no separate analysis of gas bad debt in the domestic sector.
bad and doubtful debts are published in the Electricity Council's annual statement of accounts and statistics. The figures for the years 1974–75 to 1978–79 are as follows:
otherwise accrue to the corporation will be permanently transferred to the Exchequer to the benefit of the nation as a whole. The electricity supply industry is at present a net borrower from the Government.