Jerome Mayhew
Main Page: Jerome Mayhew (Conservative - Broadland)Electric Vehicle Battery Production
Jerome Mayhew Excerpts(1 year, 4 months ago)
Commons ChamberRead Full debate Read Hansard Text
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Graham Stuart
I thank the right hon. Gentleman for his question and his consistency, but if he looks at energy costs at the moment he will find that it is the sky-high prices of fossil fuels that are causing the problems. There is consensus across the House, of which he is not quite a part, that renewables and the Government policy of building them at scale are bringing the lowest cost energy to the grid. The contract for difference companies are paying hundreds of millions of pounds into subsidised bills because under the CfD mechanism, while they were guaranteed a figure with high prices that are driven by gas prices, they are now contributing and lowering bills. It is precisely more renewables and more green energy that we need in order to have a more affordable grid for our industry and our residents.
Jerome Mayhew (Broadland) (Con)
About 40% of the components of an electric vehicle are contained within the battery. That matters because of the definition of “British made” when we export to the European Union and elsewhere. The Britishvolt site is a fantastic site with great renewable electricity and it is ready to go. Will my right hon. Friend confirm what the Government are doing to ensure that an alternative battery manufacturer takes advantage of that great site and creates employment locally?
Graham Stuart
My hon. Friend is absolutely right. I am working closely with the Department for International Trade, the Minister with responsibility for investment and others, and I am delighted to have the Minister for Trade Policy, my right hon. Friend the Member for Chelsea and Fulham (Greg Hands), here beside me. We are absolutely determined to sell the opportunity of the site to contribute to the wider goals we have discussed, and to ensure local jobs and employment. The site offers a tremendous opportunity.