Business Secretary Kwasi Kwarteng backed Labour's call for a national resilience plan to be created, so Britain's flood defences will be bolstered against future storms.
Shadow Climate Change Secretary Ed Miliband said the Government must use the latest storms as a "wake up call.
Three storms have battered the nation over the past week, including Storm Eunice which left 1.4 million households without electricity – some for up to 72 hours, with just under 30,000 still without power.
Addressing MPs in the Commons Mr Kwarteng admitted around 30,000 households are still without power today after Britain suffered its third storm in less than a week.
Storm Franklin has sparked evacuations in parts of the UK and caused widespread rush-hour travel disruption, with train operators warning customers not to travel amid gale-force winds and flooding.
The storm swept in overnight with a Met Office yellow wind warning in place for England, Wales, Northern Ireland and western Scotland until 1pm this afternoon as electricity engineers battle to reconnect properties.
Mr Kwarteng said: "Some people, particularly in the south and east of England, have been without power for more than 72 hours.
“I want to reassure them that we have dedicated teams of engineers working night and day to get them reconnected as soon as possible.
“Continuing poor weather conditions have hampered those efforts but I’m pleased to say that as of now, over 98% of those affected by storms, over 1.4 million customers have had their power restored so far, their supply restored."
He plans to roll out power to those still without within the next few days.
But Tory MP Huw Merriman alerted him that it's not just electricity shortages people are grappling. It's water shortages.
Mr Merriman said in the Commons: "I recognise this has been one of the worst storms in decades. But the situation can't be good enough that our water supply requires the electricity system to work and there's no backup generators in place pumping water into the hills of my constituency".
Mr Kwarteng couldn't respond but offer a talk at Mr Merriman's convenience.
Shadow Environment Secretary Jim McMahon has slammed the Government for not being able to construct a long term plan to safeguard the country from extreme weather events.
“Twelve years of Tory incompetence has resulted in the decimation of flood response services in the Environment Agency and local government.
“The government must bring forward a long-term plan to safeguard the country against extreme weather, to protect people, prevent damage, and respond to increasingly erratic weather patterns. Labour has repeatedly called on the government to convene a flood resilience taskforce.
"Everyone has the basic right to feel safe in their own community and to know that the services are there for them when needed.
"This is what a Labour government will deliver."
More than 450 flood alerts or warnings were in place across the UK, including two severe warnings in south Manchester that prompted more than 400 homes to be evacuated - while Northern Ireland was also badly hit.
Train operators again warned customers to 'avoid travel' or 'do not travel' with services paralysed by gale-force winds and lashing rain following days of disruption due to Storms Dudley last Wednesday and Eunice last Friday.
Manchester Airport suffered major disruption today, with arriving flights diverted to London Heathrow, Stansted, Birmingham, East Midlands, Newcastle and Dublin airports because they were unable to land in the North West.
