(12 years, 6 months ago)
Lords ChamberAs my noble friend rightly says, electricity market reform is fundamental to the setting out of future investment criteria and investment possibilities and predictability. However, we do not want to put the cart before the horse, and we want to make sure that everyone understands electricity market reform. At that point we will have a process whereby the Secretary of State will opine, having received—
Representations.
Yes, representations. I thank my noble friend the Leader. It is marvellous to have so many educated people in the room. I have lost my way now, but my noble friend has the gist.
I am still trying to pick up the jokes in her contribution. Leader, do you want to do this one?
The fact is that we have enormous expertise and knowledge in this House. On the last Bill I included everyone I possibly could in the debate and that will continue—that is a commitment from me. We cannot take this Bill forward without the enormous expertise in this room, which is hugely appreciated by the Government. Noble Lords have our commitment to that.
(12 years, 10 months ago)
Lords ChamberMy Lords, I must admit that I was hoping that the noble Baroness would say well done on incurring only £66,400 of costs. It is a curious old world when we save the consumer £1.5 billion at a cost of £66,400 and are told that we should declare to the nearest penny. Let us look at what we are taking to court. This is one of the most ridiculous schemes that have ever been dreamt up. It is already going to cost the consumer £7 billion for £400 million of net present value.
Exactly; it is ridiculous. That is on a product where you need electricity when the sun does not shine. It will produce 0.1 per cent of our electricity supply and it does not target the needy or consumers. This is one of the most ridiculous policies ever dreamt up. Guess who did it: yes, the dying embers of the Labour Government.