Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government what assessment they have made of the (1) security, and (2) cost, of energy, in light of the hostilities in Ukraine.
The Government remains confident that Great Britain’s energy security will be maintained. The Government works closely with Ofgem, National Grid Gas and other key industry organisations to monitor gas supply and demand, and the National Grid Electricity System Operator has the tools it needs to operate the electricity system reliably.
In the past 5 years the UK has met nearly half of its annual gas supply through domestic production, with most imports coming from reliable suppliers such as Norway. Less than 4% of our gas was sourced directly from Russia in 2021.
The Government has experienced gas prices at historic highs reflecting a number of market fundamentals, but also the current uncertain geopolitical situation. The Government is working closely with key international and industry partners to monitor gas supply and demand, and remains confident that Great Britain’s energy security will be maintained.