Energy: Winter Supply

Viscount Hanworth Excerpts

Thursday 17th October 2013 Lords Chamber

[Baroness Verma]

My Lords, my noble friend is right to raise this important question, but I hope that he will be reassured to know that we still have a large percentage of our gas provided from the North Sea. We have greatly increased our import infrastructure over the past few years, so have a good diversity of supply sources and gas storage to meet our demands comfortably. For both gas and electricity, National Grid is confident that it has the right mix of tools to ensure that energy requirements are met reliably and safely without having to resort to contingency measures.

[Viscount Hanworth (Lab)]

The Minister is bound to acknowledge that since the Government came to power there has been an unprecedented hiatus in investment in the energy industry. This must be due in large measure to the mixed messages that the Government have given in regard to their energy policy. She is also surely aware that, among the big six energy companies, those that have reaped the largest profits have had the worst investment records. What measures, beyond those contained in the Energy Bill, are the Government taking to encourage investment in the power industry?

[Baroness Verma]

My Lords, I remind the noble Viscount that under this Government, since 2010, £35 billion-worth of investment in the energy sector has come forward and there has been a 56% increase in the renewables sector. It is a fallacy to say that there is a hiatus when we are a very open and welcome country for investment. However, if we were to go by the plans that the noble Viscount’s party is trying to project, that investment would be driven away.