Windfall Tax: Oil, Gas and Energy Companies

Lord Oates Excerpts

Tuesday 22nd February 2022 Lords Chamber

[Baroness Penn (Con)]

My Lords, I would not speculate on the green levy or any other tax or levies outside of the Budget process. What I would say to the noble Baroness is that we remain committed to our transition to net zero. While we recognise that in the short term we need to continue our oil and gas supplies, in the longer term we need to move to greener forms of energy.

[Lord Oates (LD)]

My Lords, does the Minister recognise that between 2010 and 2020 real energy bills for consumers fell? That was in significant part because of the green levies which helped to reduce energy consumption, quite contrary to what the noble Lord on the Government Privy Bench has just said. Will she ensure that we do not cut these energy-saving levies, and will she make absolutely clear that what is driving up prices is the cost of fossil fuels, not of renewables and green levies?

[Baroness Penn (Con)]

My Lords, I believe I have already answered a question about the level of the green levy on bills. However, I have also given the reassurance that the Government are committed to their net-zero targets. That involves a transition from fossil fuels to greener forms of energy, which is why we have a plan in place to do so.