Oral Answers to Questions

John Penrose Excerpts

Tuesday 29th November 2022 Commons Chamber

[George Freeman]

Unlike the Scottish nationalists, we are committed to the private-public partnership that drives investment in our nuclear industry, and Sizewell C is a major commitment. The Government are proud to be partnering with industry, and it is a shame that the Scottish nationalists are not similarly partnering with industry for the benefit of Scots voters and bill payers.

[John Penrose (Weston-super-Mare) (Con)]

13. If he will publish a White Paper on the long-term structure of the UK energy sector after the energy price guarantee ends.

[The Minister for Climate (Graham Stuart)]

The Government have announced changes to the energy price guarantee from April 2023, as well as additional support for pensioners and those on benefits. The Government will work with consumer groups and industry to consider the best approach to consumer protection from April 2024 as part of wider retail market reforms.

[John Penrose]

Does the Minister agree that while subsidies are necessary short-term sticking plasters, investors will not commit the multi-billion pound investments that the energy sector needs to upgrade and modernise energy storage, generation and transmission unless the long-term rules are clear? Will he therefore update the Energy Bill to lay out a sustainable long-term future with investable deadlines and milestones to transition from today’s highly distorted, politicised and bureaucratic sector to a cheaper, simpler, better-value industry with much lower political and regulatory risks?

[Graham Stuart]

I am proud that this Government have led the way, with contracts for difference driving renewables such as offshore wind by driving down costs. I am also delighted that we have the legislative vehicle to deliver the necessary changes, and the Energy Security Bill will be taken forward in this Parliament to transform our energy industry by turbocharging carbon capture, utilisation and storage and our hydrogen industries in pioneering projects from the Humber to the Mersey, and beyond. The Bill will encourage competition in the energy sector, creating opportunity, prosperity and security with clean jobs, new skills and, as my hon. Friend rightly highlights, cheaper bills.