World Energy Outlook 2020 Debate
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Viscount Waverley
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World Energy Outlook 2020
Viscount Waverley Excerpts(4Â years ago)
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Lord Callanan (Con)
It is indeed shortly. We will provide more detail on nuclear power in the energy White Paper, but, as I said to my noble friend Lady Neville- Rolfe, we see much of the future being in small modular nuclear reactors.
Viscount Waverley (CB) [V]
My Lords, how is it believed the pandemic and its aftermath will reshape the energy sector? In that regard, does the Minister have his magic wand as to the long-term outlook for the development of LNG, given the current downturn in energy demand in China and the Far East, as that could directly impact the Government’s sustainable development strategy?
Lord Callanan (Con)
The noble Viscount makes a good point. The short-term impact of Covid-19 on the global energy industry is a reduction in energy demand of something like 5% year on year, which has accelerated the movement away from coal towards renewables. The report highlights the fact that solar PV is now one of the cheapest forms of energy below carbon fuel. The other points that he makes are indeed very valid.