Biomass Generation

Paul Waugh Excerpts

Monday 10th February 2025 Commons Chamber

[Michael Shanks]

My hon. Friend summarises the importance of the deal clearly. We have limited the expected rate of return for Drax to a level below that of monopolies regulated by Ofgem. We have halved the subsidies provided to Drax that were in every single deal from the Conservative party, year after year, saving £170 million each year of the agreement. We have introduced a windfall tax with 30% and 60% rates to be clawed back should Drax have excess profits. We are delivering on energy security and on tougher sustainability requirements, but at the heart of the deal is better value for money for the hard-working people of this country.

[Paul Waugh (Rochdale) (Lab/Co-op)]

Drax has been a greenwashing con that has ripped off the British public for far too long, so I welcome the statement. The Minister and the Energy Secretary have done more than eight previous Tory Energy Ministers, and indeed one Lib Dem Secretary of State. I welcome the move to slash the subsidy for Drax and to enforce 100% sustainability targets on its supply chains. But when the Minister talks about a windfall mechanism, may I gently urge him to call a spade a spade? This is a windfall tax on Drax and we should be proud of saying so.

[Michael Shanks]

At the risk of getting into trouble with those responsible for tax matters, I simply say that this is a windfall mechanism that does exactly the same thing, and it does exactly what the Conservatives failed to do in 14 years, which is to ensure that there is a good deal and good value for money for the British public, delivering on energy security and, crucially, getting us to a point where our clean power plan for 2030 delivers energy security, climate leadership and jobs right across the country. It is the ambition of doing something different in this country and doing it fast, and we are committed to delivering it.

Oral Answers to Questions

Paul Waugh Excerpts

Tuesday 8th October 2024 Commons Chamber

[Chris Vince (Harlow) (Lab/Co-op)]

18. What steps he is taking with his international counterparts to tackle climate change.

[Paul Waugh (Rochdale) (Lab/Co-op)]

21. What steps he is taking with his international counterparts to tackle climate change.

[The Secretary of State for Energy Security and Net Zero (Ed Miliband)]

This Government believe that we can only ensure climate security for further generations in the UK if we lead globally. That was the message of the Prime Minister at the United Nations General Assembly with our world-leading 2030 clean power plan, no new oil and gas licences, and playing our part in reforming the global financial system. Next month I will be attending the COP29 talks in Azerbaijan to stand up for Britain’s interests.

--- Later in debate ---

[Ed Miliband]

My hon. Friend did very well, and I agree with him. Part of the problem with the last Government—I do not doubt that there were people making good endeavours—is that when we do something different at home to what we preach internationally, such as say we are going to power past coal by opening a new coalmine, people say, “Well, you are saying one thing and doing another.” Consistency is the absolute foundation for global leadership.

[Paul Waugh]

I welcome the Secretary of State’s commitment to our international obligations, whether that is clean power lines or our own strong domestic climate policies that will help areas such as Rochdale, with billpayers in recent years facing the grim possibility of high bills. This will make a huge difference, and the obvious comparison with the previous Government is there for everyone to see. Will he outline to the House what further steps he is taking on the global stage at both COP29 and COP30 to increase our global reach on climate?

[Ed Miliband]

I will say one thing in particular to my hon. Friend. The Prime Minister said at the United Nations General Assembly that we will be unveiling our nationally determined contribution—our target for 2035—at COP29. We are doing that because the danger is that the world settles into a low-ambition equilibrium when it comes to tackling these issues. By having a 1.5º aligned target, we hope to set a good benchmark and a good example for the world.