Steve Brine has welcomed news that the Government is taking action on the energy market, which he says is not working for all customers.
The Winchester & Chandler's Ford MP is backing the move, which will put in place a requirement on the independent regulator, Ofgem, to cap energy tariffs until 2020.
Mr Brine said: "Currently, some consumers are paying up to £300 more than they need to, and this cap will help bring this overcharging under control. It will mean a temporary, absolute cap can be set on standard variable tariffs and default tariffs.
"This will protect the 11 million households in England, Wales and Scotland who are currently on SVT or other default energy tariffs."
Mr Brine also confirmed that it will build on existing caps for the prepayment market and vulnerable customers, introduced since the CMA's 2016 report, and which already cover 5 million households. The wider temporary price cap will be in place until 2020, with an option to extend to 2023 while the market becomes more competitive and works better for consumers.
The MP's comments came as the Domestic Gas and Electricity (Tariff Cap) Bill was introduced in the House of Commons on Monday 26th February.
Steve Brine added: "The Competition and Markets Authority 2016 investigation into the energy market highlighted that domestic customers of the Big 6 energy suppliers pay on average £1.4bn a year more than they would in a truly competitive market.
"There is, in effect, a two-tier market. Active customers save money by switching suppliers, on average switching from standard variable tariffs of the Big 6 to the cheapest tariffs on the market can save around £300 each year. But far too many customers remain on poor value tariffs. It is of particular concern that these customers typically tend to be more vulnerable than those who are getting the best deals."
If the Bill achieves Royal Assent by the summer then the price cap can be in place by next winter and provide price protection for millions of customers.