(1 week, 2 days ago)
Commons ChamberThe two renewables auctions under this Government have secured power for the equivalent of 23 million homes, and we are embarked on the biggest nuclear building programme for 50 years. The war in Iran shows that we need to go further and faster, so we will open our next renewables auction next month. We recently signed contracts for a fleet of Rolls-Royce small modular reactors. Clean power is already reducing wholesale electricity prices by up to a quarter, and those steps will do more to protect families and businesses across our country.
For my Slough constituents, the crisis in Iran and the naval blockade have had a profound impact on household budgets, but we have also been left vulnerable by previous Conservative-led Governments who ran down our energy system for over a decade, leaving us on the fossil fuel rollercoaster and susceptible to global fluctuations. Unlike our Tory predecessors who failed to invest and did not provide for our constituents, what measures are the Government taking to invest in cheap, clean, home-grown energy so that my Slough constituents, and others across the country, can be protected from those spikes in the cost of living?
My hon. Friend is absolutely right. The central fact that we cannot get away from is that we are price takers not price makers when it comes to oil and gas, and that is the fundamental contradiction at the heart of where the Opposition are. We are going to drive further and faster on clean power, including electrification across the economy. Indeed, customers are already better protected as a result of the renewables in our system, but we must go further and faster.