Eilidh Whiteford
Main Page: Eilidh Whiteford (Scottish National Party - Banff and Buchan)
Mr Davey
I shall make progress and take interventions later.
Since coming to office, the Government have already seen significant new investment in clean energy. Our policies have stimulated new growth, supported new jobs and delivered new capacity. The UK is becoming more attractive to investors. Billions of pounds are being poured into our low-carbon economy, and more and more clean energy is coming on stream. The average annual growth in our low-carbon and environmental goods and services sector is estimated at more than 5% right through to the end of this Parliament, and low-carbon goods and services account for 8.2% of the UK’s GDP—a higher proportion than in Germany.
Since last April, companies have announced plans for £3.8 billion of investment in the UK renewable energy industry, and £600 million has been invested in onshore wind alone. A recent report by Ernst and Young showed that the UK is now the fifth most attractive place to invest in renewable energy—up from sixth last year—and we remain the most attractive place in the world for investment in offshore wind. The Minister of State, Department of Energy and Climate Change, my hon. Friend the Member for Wealden (Charles Hendry) was telling me that 95% of offshore wind installations occurred off our shores last year.
Mr Davey
I am delighted to confirm that. I am sorry if my hon. Friend thinks I am interpreting low carbon as renewables, which is not our position. When we look at electricity market reform and talk about low-carbon technology, we are indeed talking about new nuclear and carbon capture and storage as well. I hope I have reassured my hon. Friend on that point.
Dr Whiteford
May I welcome the Secretary of State to his new post? I am glad that carbon capture and storage has been mentioned, as I have a constituency interest in gas carbon capture and storage at Peterhead, which provides a classic example of an opportunity missed in recent years. Will the Secretary of State take the opportunity today to set out a clear timetable for that technology? Personally, I believe that gas is a really flexible technology that will help balance the intermittency, so when can we expect an announcement?
Mr Davey
As the hon. Lady will know, we intend to announce our competition for CCS soon. I cannot give her the date today, but we are clear that we will make it soon and in time to dovetail as best as possible with the European money that will also be available for some of these pilots.