Energy Security

Debate between Lord Callanan and Lord Adonis

Monday 5th December 2022 Lords Chamber

[Lord Callanan (Con)]

The answer to the noble Lord is that we need both. We need new large-scale nuclear power, not least to replace some of the ageing stations that are being phased out, but we want lots of new renewable power locally as well. Indeed, our strategy is to produce exactly that. I know that the Opposition tend to be a bit down on our renewable energy record but, dating from the coalition days, we have a fantastic renewable energy policy. We are continuing to roll out new renewables at a very large rate—one of the fastest in Europe—and we will continue to do so, subject to inevitable supply chain constraints as the rest of Europe seeks to catch up with the excellent policies that we have been following.

[Lord Adonis (Lab)]

My Lords, how many new nuclear reactors do the Government think they might be able to get operational in the next 20 years with their new planning framework and Great British Nuclear? Will the Minister also indicate, to whet our appetite, if the Government were to allow a more liberal planning regime onshore wind, how big a contribution might this also make to our energy supply?

[Lord Callanan (Con)]

The noble Lord will know, from his history of looking at infrastructure projects, that I cannot give definitive answers to those questions. We have announced the funding of Sizewell. Discussions are under way with operators for additional nuclear plants. I will be sure to let the House know when we have secured those investments and when we can make decisions on them.

It is difficult to answer the noble Lord’s question on onshore wind: it will make a contribution. Clearly, individual turbines make a relatively small contribution, but when they are scaled up, it can be quite large. Again, it is intermittent generation, but they will make a contribution, particularly in local areas. We want more wind; we want more solar; we want more hydro; we want more geothermal: the whole idea is to provide a diverse mix of energy sources.

Newport Wafer Fab

Debate between Lord Callanan and Lord Adonis

Tuesday 22nd November 2022 Lords Chamber

[Lord Callanan (Con)]

I agree with the noble Lord. That is why in 2016 we set up the Compound Semiconductor Applications Catapult, with £50 million of funding. Since then, it has initiated over £100 million of projects and collaborative projects which have generated or saved over 4,700 jobs in the UK. Therefore, we are very active in this space. This decision has no implications for that investment, which will continue. It was a quasi-judicial decision on national security grounds, which is what the Secretary of State is required to do.

[Lord Adonis (Lab)]

Are there any other national security investigations of this kind under way?

[Lord Callanan (Con)]

The noble Lord knows that I cannot comment on other live cases until final orders are made. I can give him some figures from the National Security and Investment Act report, published in March. The NSI unit received 222 notifications and 17 applications were called in. Since then, we have made 10 final orders, and acquisitions have been unwound or blocked on three occasions.

Power Outages: North of England

Debate between Lord Callanan and Lord Adonis

Thursday 2nd December 2021 Lords Chamber

[Lord Callanan (Con)]

My understanding is that there are currently about 20,000 people who are still without power. As I said, 950,000 have had their power restored. I understand the calls for the Army to be deployed, and its abilities are legendary, but it is important to recognise that in work such as this, safety priorities mean that only suitably qualified engineers can work on electricity network infrastructure. The military resource cannot support the restoration of electricity supplies, and network distribution operators have confirmed that military assistance is not necessary in this case.

[Lord Adonis (Lab)]

My Lords, can the Minister give us some idea of how much it would cost to put all these power lines underground?

Corporate Insolvency and Governance Bill

Debate between Lord Callanan and Lord Adonis

Committee stage & Committee: 2nd sitting (Hansard) & Committee: 2nd sitting (Hansard): House of Lords
Wednesday 17th June 2020 Lords Chamber

[Lord Callanan]

I do not want to go any further than what I said in my reply. I have been in correspondence with the Pre Pack Pool and we have arranged for officials from my department and from the Insolvency Service to meet with it further to discuss its concerns.

[Lord Adonis [V]]

Could Members of the Committee see before Report the letter of 29 May sent in reply to the pool, which the Minister mentioned?

[Lord Callanan]

In principle I have no objection to releasing that; obviously, I would need to speak to officials and to the recipients to check whether they are all happy with that. I do not know whether it was sent confidentially basis or whether it is available for publication, but I will certainly look at that.

Covid-19: Financial Markets

Debate between Lord Callanan and Lord Adonis

Wednesday 25th March 2020 Lords Chamber

[Lord Callanan]

A ban has already been imposed on the short selling of stocks because regulators in their own individual countries have imposed bans. A small number of European countries like the ones he mentioned have imposed bans on short selling, and of course the London authorities have then reflected that in our own regulation. Most of the major trading houses have not yet instituted bans, but this is something that we are looking at closely. The FCA has the powers to restrict and prohibit short selling if that is required. We are keeping this under constant review and there is no evidence that it has contributed to the fall in the market. Moreover, as I have said, the level of short selling over recent days has in fact been declining.

[Lord Adonis (Lab)]

My Lords, referring to the question put by my noble friend Lord Harris, do the Government still have the statutory power to regulate prices?

[Lord Callanan]

There are competition issues involved in doing that, as the noble Lord will be well aware of, given his experience. We have some powers in certain sectors and at the moment we are looking at this within the existing framework of legislation.