Asked by: Lewis Cocking (Conservative - Broxbourne)
Question to the Department for Energy Security & Net Zero:
To ask the Secretary of State for Energy Security and Net Zero, whether his Department has made an assessment of the potential impact of net zero policies on (a) energy security and (b) industrial competitiveness.
Answered by Kerry McCarthy - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
The transition to net zero will support both energy security and industrial competitiveness.
Switching to homegrown clean energy, including renewables and other clean technologies, offers security that fossil fuels simply cannot provide. And our Clean Power 2030 target is the key to long-term sustainable price reductions. Clean, homegrown energy is the best way to protect billpayers and boost Britain's energy independence.
The Government recognises the challenges in moving away from fossil fuels but is confident security of supply can be maintained throughout this transition. The recently published Clean Power 2030 Action Plan sets out our plans to secure critical supply chains in clean energy and foundational industries, such as steel and concrete.
Alongside measures to support the growth of these sectors, we are bringing energy costs for UK industries closer in line with other major economies, including through the British Industrial Competitiveness Scheme. This will slash industrial electricity prices by around 20-25% from 2027, which could benefit over 7,000 manufacturing businesses, including carmakers and defence manufacturers – which employ over 300,000 skilled workers.
The Government will publish its updated carbon budget plan by October. This will set out the policy package to the end of Carbon Budget 6 in 2037 for all sectors of the economy, and will include consideration of energy security and industrial competitiveness.
Asked by: Lewis Cocking (Conservative - Broxbourne)
Question to the Department for Energy Security & Net Zero:
To ask the Secretary of State for Energy Security and Net Zero, what assessment has he made of the potential financial impact of net zero policies on people in poverty.
Answered by Kerry McCarthy - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
The net zero transition will not only be the economic opportunity of the century, but it will also support the creation of hundreds of thousands of good jobs across the UK, protect our economy from future price shocks that reliance on fossil fuels create, while delivering a range of social and health benefits. The Warm Homes Plan, for example, will transform homes across the country, from installing new insulation to rolling out solar and heat pumps, helping households make their homes cleaner and cheaper to run.
As the OBR has noted [July 2021 Fiscal Risks Report], the costs of failing to get climate change under control would be much larger than those of bringing emissions down to net zero.