Annual Energy Statement

Julian Sturdy Excerpts

Thursday 31st October 2013 Commons Chamber

[Mr Davey]

That is not correct. The energy statement is made every year, and we have been working on many of the proposals that have been announced today for many years. We are having to put right Labour’s failure. I am delighted that the Labour party has woken up to the fact that energy bills are hurting people, but Labour Members have not yet apologised for creating the big six, which have caused most of the problem.

[Julian Sturdy (York Outer) (Con)]

My constituents will welcome the Secretary of State’s determination to ensure rigorous competition in the marketplace. However, the biggest driver of price volatility will be the security of our energy market—or lack of it. Can he assure me that the proper investment is going into that area? The lack of investment by the Labour party over 13 years in power is a disgrace.

[Mr Davey]

My hon. Friend makes an important point. If we do not have sufficient capacity, not only will that threaten security, but it will cause spikes in prices. The underinvestment that we had under the last Government has caused this problem, and we are having to run to catch up. We have seen £35 billion of investment since 2010, and we have a lot more investment in the pipeline. We have announced Hinkley Point C as the first nuclear reactor in a generation, but we will have to do more to put right the mess that Labour left us.