UK Energy Costs

Debate between Elizabeth Truss and Andrew Stephenson

Thursday 8th September 2022 Commons Chamber

[The Prime Minister]

I want to make some progress on explaining how we will defray the cost of this intervention, which I think might answer some hon. Members’ questions before they ask them.

We will defray the cost of this intervention by, first, ramping up supply. Following on from the successful vaccine taskforce, we have created a new energy supply taskforce under the leadership of Maddy McTernan. The taskforce is already negotiating new long-term energy contracts with domestic and international gas suppliers to bring down the cost of intervention immediately.

We are also accelerating all sources of domestic energy, including North sea oil and gas production. We will be launching a new licensing round, which we expect to lead to more than 100 new licences being awarded; and we will speed up our deployment of all clean and renewable technologies, including hydrogen, solar, carbon capture and storage, and wind, where we are already a world leader in offshore generation. Renewable and nuclear generators will move on to contracts for difference, to end the situation in which electricity prices are set by the marginal price of gas. This will mean that generators receive a fair price that reflects their cost of production, further bringing down the cost of this intervention.

[Andrew Stephenson (Pendle) (Con)]

I warmly welcome the immediate action announced by the Prime Minister on the cost of energy, which will help families in my Pendle constituency and right across the United Kingdom. Next week is nuclear week in Parliament, so will she join me in supporting the roll-out of small modular reactors championed by Rolls-Royce, which has two sites in my constituency? We need this technology now, so will she go further and faster in driving forward the nuclear programme in this country?

[The Prime Minister]

My hon. Friend is absolutely right that small modular reactors are a very important part of our energy mix. They are produced here in the United Kingdom. They will help to boost growth as well as boosting our energy security.

Oral Answers to Questions

Debate between Elizabeth Truss and Andrew Stephenson

Thursday 7th July 2016 Commons Chamber

[Andrew Stephenson (Pendle) (Con)]

T7. The excellent annual Trawden show takes place on Sunday 14 August. Will my right hon. Friend join me in congratulating Trawden and District Agricultural Society on organising the event, and does she agree that agriculture shows in communities play a key role in promoting agriculture to a wider audience?

[Elizabeth Truss]

Agriculture shows are fantastic. I have been to a large number this year, culminating in the fantastic Norfolk show last week. I want to give my compliments to the Trawden show and wish it all the best for 14 August.

Flooding

Debate between Elizabeth Truss and Andrew Stephenson

Tuesday 5th January 2016 Commons Chamber

[Elizabeth Truss]

The hon. Gentleman is right about the importance of involving local communities, and I should be very interested in looking at that scheme myself. Similar schemes are being delivered in areas such as Pickering, and by the Cumbrian Floods Partnership and the Somerset Rivers Authority. I think that we should give local communities more power over decisions and involve them more in building up resilience, as well as paying attention to our national risk.

[Andrew Stephenson (Pendle) (Con)]

Throughout Pendle, most rivers rose to record levels. The town of Ireby, on the Lancashire-Yorkshire border, was worst hit. A number of homes and businesses were flooded, and I shall be holding a special advice surgery with councils this weekend to meet affected residents and business owners. Although a number of parts of Pendle have benefited from flood defences in the recent past, Ireby suffered once again. Will the Secretary of State meet me to discuss what more can be done to help the town?

[Elizabeth Truss]

Either the Floods Minister or I should be happy to meet my hon. Friend.