Oral Answers to Questions
Debate between Kwasi Kwarteng and Andrew Bridgen(2 years, 3 months ago)
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Andrew Bridgen (North West Leicestershire) (Con)
The Secretary of State for Business, Energy and Industrial Strategy (Kwasi Kwarteng)
My hon. Friend will have noticed that we are fully committed to the nuclear power industry and, unlike the Opposition, we are looking to develop nuclear power because it is an essential component of decarbonised, stable, firm power.
Andrew Bridgen
I thank my right hon. Friend for that reassurance. I have long spoken up for modular nuclear technology, not only for the baseload it can supply to our energy production but for the jobs and prosperity it can provide for the city of Derby and the north of England. Does he agree that while we wait for this modular nuclear technology to come online, it is also important that we invest in fracking, because short-term energy security has never been more important than it is currently?
Kwasi Kwarteng
My hon. Friend will know that I asked the British Geological Survey to look at fracking, and we will be coming out with a statement on its findings shortly.
Oral Answers to Questions
Debate between Kwasi Kwarteng and Andrew Bridgen(2 years, 6 months ago)
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Kwasi Kwarteng
The hon. Gentleman is indeed correct: Scotland is extremely wealthy in its range of energy sources. That is why we have sought to encourage it through things like the £27 million Aberdeen energy transition zone and the North sea transition deal. We have constantly supported the Scottish energy industry. The hon. Gentleman refers to a report by Ofgem. I speak to it regularly, and we always try to see what we can do to justify and to equalise bills across the UK.
Andrew Bridgen (North West Leicestershire) (Con)
I welcome the fact that the Prime Minister has announced that he will publish an energy supply strategy to deal with the UK’s energy requirements for the short, medium and long term. Can the Secretary of the State update the House on when we can expect the strategy to be published?
Gas Prices and Energy Suppliers
Debate between Kwasi Kwarteng and Andrew Bridgen(3 years ago)
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Urgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
Each Urgent Question requires a Government Minister to give a response on the debate topic.
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Kwasi Kwarteng
I would be very happy look at that, as the hon. Lady suggests. I have said many times, I am in contact with Mr Brearley, the chief executive officer of Ofgem, on practically a daily basis now, and this is something that I can raise with him at our next meeting.
Andrew Bridgen (North West Leicestershire) (Con)
I draw the House’s attention to my entry in the Register of Members’ Financial Interests. I own shares in companies that invest in renewable energy. As the House will know, consumer energy bills are enhanced by climate change levy charges, which are used to support renewable energy producers. Is my right hon. Friend aware, however, that a large number of those renewable energy producers use special purpose vehicle companies to receive those subsidies, and that many of those SPVs are based offshore for tax purposes? Will he meet me to discuss how the Government are going to close that very clear tax loophole?