Gas Storage Levels

Lord Reid of Cardowan Excerpts

Tuesday 14th January 2025 Lords Chamber

[Lord Hunt of Kings Heath (Lab)]

My Lords, I am glad that I was not alone in thinking that we enjoyed a filibuster last night. What is tragic is that the Conservative Party is clearly retreating from net zero and clean power and has become obsessed with gas. This is not the way that we need to go. The noble Earl is quite right. Centrica chose to put out what I can only describe as an alarmist statement. NESO and British Gas are quite clear that we did not face a crisis and that we have adequate supplies. I hope that those who were involved in making those claims last week will reflect on the concern that they caused.

[Lord Reid of Cardowan (Lab)]

My Lords, I welcome the Minister’s Statement. For the clarity of the house, can he confirm that the statement put out last week by NESO was a completely normal, conventional, operational statement which is made regularly to ensure that we have one of the safest and most reliable systems in the world?

[Lord Hunt of Kings Heath (Lab)]

That is right. NESO manages this with an operating margin, made up of the operating reserve—1,400 megawatts, which it always keeps in reserve. There is a contingency reserve of an additional 800 megawatts on top of that operating reserve. That contingency reserve was tight last week and so an electricity margin notice was issued, as my noble friend suggested. This is a perfectly normal market response to a tightening of the situation, which was resolved immediately.