Critics counter farmers in Scotland would be forced to work in darkness for much of the morning and that less light would be dangerous for school children walking to school.
A trial of maintaining British Summer Time throughout the entire year ended in 1971 after three years following strong opposition from the agricultural industry.
But Lord Lee said: “Considering the energy crisis, it is certainly worth looking once more at whether there is a real energy-saving case for moving the clocks.”
Trade bodies The Tourism Alliance and the Association of Leading Visitor Attractions have also said the move should be considered.
Even the National Farmers’ Union of Scotland said it was “open to further independent analysis”.
Spokesman Bob Carruth said: “The modern farm is well lit and increasingly mechanised, so the dangers posed by carrying out field operations or handling livestock in darker winter mornings are not as great as they once were.”
However, he added more research was needed, saying “insufficient justification has yet been given to make a change to the current arrangements”.
There have been close to 10 separate failed attempts from members of Parliament to legislate a change in the time over the past two decades, most recently in 2010-11.
At the time a report from the Policy Studies Institute think tank said setting the clocks forward one hour throughout the year could save consumers £260m on their energy costs, due to expected lower demand for heating and lighting during peak times. A separate study from the economic unit of the Greater London Authority claimed residents in the capital would be £20m better off.
Other reports however, including from BRE research group, found there would be no saving. MPs of the Energy and Climate Change Committee concluded any savings would only be small, saying “the evidence quantifying these effects is not strong enough to conclude either way what the impact on the overall demand would be”.
A Government spokesman said it recognised the pressure families faced but added there were no official plans to review Daylight Saving Time.
