Oral Answers to Questions
Debate between Grant Shapps and James Grundy(1 year, 7 months ago)
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Grant Shapps
As my hon. Friend says, fusion has always been talked about as 20 years hence, but to speed that up we have invested £700 million in fusion in the spending review period. We are working to get the world’s first fusion power station connected to the grid by 2040, with works scheduled to start in 2032.
James Grundy
The north-west has long been home to a large number of jobs dependent on the nuclear sector. Does my right hon. Friend foresee the potential for future jobs in the north-west as we continue to develop nuclear fusion technology?
Oral Answers to Questions
Debate between Grant Shapps and James Grundy(1 year, 11 months ago)
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James Grundy (Leigh) (Con)
The Secretary of State for Business, Energy and Industrial Strategy (Grant Shapps)
The Government are supporting households with their energy bills through the energy price guarantee, the energy bills support scheme, and alternative fuel payments for households that use alternative fuels such as heating oil to heat their homes.
Grant Shapps
My hon. Friend raises a good point. What concerns me is the idea that when wholesale prices go up we get a rocketing in domestic prices, but as wholesale prices fall again, as they have done, we get a sort of feathering down, very slowly. I am concerned about that and I have written to Ofgem asking it to look at the market. Energy companies are forward buying their energy by several months, but we need those changes to come through in reductions to households, and we will be pressing to make sure that happens.
James Grundy
Will my right hon. Friend confirm that the support the Government have provided to households to help with their energy bills will continue once current arrangements come to an end later this spring, and until international energy markets have fully stabilised?
Grant Shapps
I am pleased to confirm that the energy price guarantee has been extended to April 2024, so that support will continue. As I mentioned earlier, we are seeing some of the prices moderate, but the problem is that that combination of higher prices could still continue to lead through, which is why we will keep the energy price guarantee in place.