Energy: Storage

Debate between Lord Prior of Brampton and Baroness Jones of Moulsecoomb

Wednesday 1st February 2017 Lords Chamber

[Lord Prior of Brampton]

My Lords, if there is any issue about availability of supplies from France, it probably relates more to the fact that a number of France’s nuclear plants are nearing the end of their lives than to anything that comes out of Brexit. In fact, as the noble Lord may know, we are investing in more interconnector capacity, which would increase the capacity from 2,200 megawatts to more than 7,000 megawatts. Again, that should reduce the cost of electricity to our consumers.

[Baroness Jones of Moulsecoomb (GP)]

My Lords, I do not hear the Government talking much about microgeneration, which provides a real opportunity to get local people to invest. Is that something that the Minister’s department is looking at?

[Lord Prior of Brampton]

My Lords, again, the development of battery technology and electric vehicles means that every consumer in the country could become a small generator in due course and be able not only to take electricity from the grid during downtimes but also to feed back energy from their electric car or their own battery in their own home during peak times. We are looking at, I think, a revolution in the way that we manage electricity in this country.

Green Investment Bank

Debate between Lord Prior of Brampton and Baroness Jones of Moulsecoomb

Thursday 12th January 2017 Lords Chamber

[Lord Prior of Brampton]

My Lords, the Green Investment Bank has been a huge success—I do not think anyone doubts that. From a start-up four or five years ago, it has developed into probably the finest financial institution in this space. The Government have two objectives: first, to get value for money—certainly not to sell the assets for less than they are worth; and secondly, to free up the Green Investment Bank so that it can use its expertise to back more sustainable projects in the future.

[Baroness Jones of Moulsecoomb (GP)]

My Lords, I give credit to the coalition Government for setting up the Green Investment Bank. It was a very good move and I deeply regret the privatisation because I feel that we will, perhaps, lose some momentum. However, in a debate yesterday in the other place the right honourable Member for West Dorset said that the privatisation of the Green Investment Bank would be judged on its increasing the spend over the last full year, which I think was £700 million. Is there any commitment within the bidders’ bids—I do not think this is confidential—to increase investment so that the good work can continue?

[Lord Prior of Brampton]

My Lords, I think the Green Investment Bank has spent just over £2.5 billion so far and has brought in about £8 billion of private investment to complement that, so it has committed a total investment of about £10 billion. Clearly anyone who buys the Green Investment Bank will want to see that investment grow. That will be very much part of the negotiated discussions that we are having with interested parties.

Sugar Tax

Debate between Lord Prior of Brampton and Baroness Jones of Moulsecoomb

Wednesday 3rd February 2016 Lords Chamber

[Lord Prior of Brampton]

My Lords, we have to be careful, or at least recognise, that if a sugar tax were imposed it would fall largely on those who are least able to afford it. There is of course a strong argument for a sugar tax, but there is also a case for making the argument against sugar consumption and making it easier for people not to consume sugar before we resort to taxation.

[Baroness Jones of Moulsecoomb (GP)]

My Lords, the Mayor of London, a well-respected member of the Conservative Party, has already put a sugar tax on sugary drinks at City Hall, so might the Government consider doing the same for the rest of Britain?

[Lord Prior of Brampton]

My Lords, what the Mayor of London has done at City Hall is similar to what Simon Stevens proposes to do within the NHS. The Government will watch both moves with great interest.