UK Gas Market

Bim Afolami Excerpts
Monday 20th September 2021

(2 years, 6 months ago)

Commons Chamber
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Kwasi Kwarteng Portrait Kwasi Kwarteng
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I would say that our prices are very competitive. Offshore wind, for example, started off at about £150 per megawatt-hour, and at the last auction round it was £39 per megawatt-hour. We have seen the cost of renewables fall considerably over the past 10 years. As for CF Fertilisers, it would be premature of me to say exactly what the Government are going to do. A range of options are being considered, and I hope that the Government will be able to update the House shortly.

Bim Afolami Portrait Bim Afolami (Hitchin and Harpenden) (Con)
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How long does the Department expect these elevated global gas prices to remain at their current level? May I also press the Secretary of State a little on nuclear? I agree with him that it is an essential part of the energy mix, but in relation to large-scale nuclear, what are his plans beyond the one plant that has already been agreed?