Oral Answers to Questions

Jack Brereton Excerpts

Tuesday 18th April 2023 Commons Chamber

[Amanda Solloway]

As I have said, I am always keen to meet stakeholders, and of course I should be happy to meet my hon. Friend.

[Jack Brereton (Stoke-on-Trent South) (Con)]

T1. If he will make a statement on his departmental responsibilities.

[The Secretary of State for Energy Security and Net Zero (Grant Shapps)]

Since we last met, the Department has been active in, for instance, publishing the “Powering up Britain” document. In the last week, I have been in South Korea and Japan, where we negotiated with the G7 an update to the climate energy security plan, and a large number of our partner G7 countries expressed the view—not always recognised throughout the House—that this country leads when it comes to the green transition in energy.

[Jack Brereton]

Energy costs remain a major concern for many businesses. In particular, as has been recognised, the tying of electricity prices to the price of gas is raising energy prices to unnecessarily high levels, which is deterring investment in electrical technologies and forcing businesses to continue to invest in gas-powered technology. Will my right hon. Friend tell us when the decoupling of electricity and gas prices will actually happen?

[Grant Shapps]

This decoupling is a particularly complex matter, but we are absolutely into the detail of it. As my hon. Friend knows, the connection between electricity and gas prices is to do with the way in which the contracts have been written. We are conducting a review of the electricity market, and we are also looking at the way in which some of the existing standing costs are allocated between gas and electricity, with the aim of achieving precisely what my hon. Friend is after.