Ed Miliband
LabourMP for Doncaster North · Since 2005
Speeches (89)
Energy Security
No. I have set out the approach to energy security that underpins this Gracious Speech. Above all, we will learn the lessons of the fossil fuel crises of our age. We will build our energy independence, tackle the affordability crisis, deliver good jobs and investment in our communities, and make the right decisions for today’s generation and future generations. I commend the Gracious Speech to the House.
Energy Security
I am going to make some progress. By contrast, we stand for national security through energy security and energy independence. How we protect consumers is very important. My right hon. Friend the Chancellor showed at the Budget last year that she took decisions to raise taxes, including on the wealthiest, so that we could cut bills for everyone, and we saw that happen in April. The Gracious Speech also includes legislation to raise the rate of the electricity generator levy from 45% to 55%, as p
Energy Security
No, I am not giving way. The energy profits levy has raised £12 billion since it was introduced in 2022.
Energy Security
My hon. Friend puts it well. There is something ironic about the fact that Reform says nationally that it wants fracking, but its representatives in Scarborough and Lancashire seem to say that they are against it. From now until the general election, we are going to be asking where Reform candidates stand: is it with their local community, or is it with the fracking industry?
Energy Security
I am not going to give way. We want to ensure that those jobs are good jobs, so we will amend employment rights legislation, as part of the energy independence Bill, to enable us to bring the rights of offshore renewables workers in line with those working in oil and gas. It is by driving forward in clean energy that we have the best chance of a fair transition in the North sea. Some 70,000 jobs were lost in less than a decade under the last Government. We are determined to lead the world in ind
Energy Security
I am not going to give way as I need to finish soon. The energy independence Bill will legislate to help deliver the biggest investment in home upgrades in British history through our £15 billion warm homes plan. As part of this, we will act to help private renters. This is important, because it is about how we make sure that, in the drive to clean power, we help everybody in our society. It is a scandal that 1.6 million children living in private rented homes are suffering from cold, damp or mo
Energy Security
The hon. Lady obviously does not understand that prices are going up, including from the North sea. Let us look at the amount that the tax raises. According to the Office for Budget Responsibility, even before this crisis the windfall tax was forecast to raise £5 billion by September 2027. Conservative Members—the official Opposition—have to explain: where is the money going to come from, then? They are going to cut that tax of £5 billion for the biggest oil and gas companies. By contrast, we be
Energy Security
No, I am not giving way. At this moment, what have the official Opposition, alongside the SNP, decided to call for? They have called for the Government to dump that policy. Let us get this straight: at the precise moment that the British people struggle with the effects of the war, those parties say that the priority with scarce resources is to cut taxes for the largest oil and gas companies making record profits. Let us be clear: no amount of false accounting or fuzzy maths can hide the facts a
Energy Security
I am not giving way, no. Let me quote the right hon. Member for Richmond and Northallerton (Rishi Sunak), the former Prime Minister, who was the Chancellor at the time. These are not my words—this is not Red Ed; it’s Red Rishi! He said: “The oil and gas sector is making extraordinary profits, not as the result of recent changes to risk taking or innovation or efficiency, but as the result of surging…commodity prices,”—[Official Report, 26 May 2022; Vol. 715, c. 450.] He was right.
Energy Security
I will just make a bit of progress. We say tax those profits to help the British people.
Energy Security
No, I am not going to give way. These are unearned profits as a result of the war.
Energy Security
My hon. Friend makes his point incredibly well, and I do want to say something about renewables before I move on. At the time of the AR7 auction, the right hon. Member for East Surrey said that we should cancel that auction. As I said, that auction secured power for the equivalent of 16 million homes—[Interruption.] Perhaps Opposition Members could listen for a second. That included offshore wind at prices that are 40% cheaper to build and operate than new gas. At the time, the right hon. Lady s
Energy Security
I am always happy to work with the hon. Gentleman, for whom I have great respect, as are my team of Ministers.
Energy Security
Well, we may agree on some things, but not on this. I have great respect for the right hon. Gentleman, so let me say this. Even the most ambitious plans for solar involve less than 1% of agricultural land—something like 0.6%. I say to Conservative Members that it is somewhat irrational that in relation to nuclear, they want to be builders not blockers, but in relation to everything else, they want to be blockers not builders. If we support the nuclear power plant, we have got to support the grid
Energy Security
My hon. Friend is absolutely right, and this is what is so exciting. Contrary to what the shadow Energy Secretary said, we are seeing a renaissance of nuclear in this country, and not just through the Rolls-Royce programme—although we were very pleased to sign the agreement with Rolls-Royce alongside the Chancellor recently; there are also other routes to markets. We are very encouraging of the efforts of my hon. Friend, and others.
Energy Security
I will give way to the right hon. Gentleman, because he and I go back a long way.
Energy Security
I will not give way for a minute. The shadow Secretary of State comes to the House with a plan which will not take a penny off bills, which will not give us energy security and which rejects the things she used to believe.
Energy Security
I am not going to give way again. This is the difference with Labour: we are learning the lessons of the fossil fuel crises we face, and we are acting.
Energy Security
The SNP has had more positions on this than the Kama Sutra, so it is genuinely hard to keep up. We have a very simple position: we want to keep existing oil and gas fields open for their lifetime. One of the things that the energy independence Bill will do is introduce transitional energy certificates—so-called tiebacks—which is what industry has called for. We are not in favour of a “turning off the taps” position, but I will be honest with the House: nor are we in favour of a “drilling every l
Energy Security
Because if we did that, we would end up in climate disaster. That is the truth.
Energy Security
I am not going to give way. Don’t take my word for it. This is what the Energy Transitions Commission, which includes energy companies, says: “Any national strategy which assumes that all fossil fuel reserves must be exploited is incompatible with limiting global warming to safe levels”. The truth is that new licences are totally marginal to the North sea.
Energy Security
I am going to make some progress, and then I will give way. For nearly two years, we have been moving at speed on our mission to make Britain a clean energy superpower. We came to office amid a legacy of the irrational onshore wind ban; the fiasco of the allocation round 5 auction, with no offshore wind secured; and years of dither and delay on nuclear—the shadow Secretary of State amused me on nuclear, and I will come to that in a second. The Conservative Government left us exposed through 14 y
Energy Security
I will make a bit more progress. That is why we have already brought forward our next renewables auction and taken steps to fast-track the roll-out of renewables on public land. But renewables are only part of the story, and I want to come to nuclear, because this is going to be fun. Those drafting the Opposition amendment obviously have a real sense of humour. Here is the truth about their record. They promised a final investment decision on Sizewell C in the last Parliament and did not deliver
Energy Security
It was not worth giving way after all. The shadow Secretary of State cannot answer the question.
Energy Security
I will not give way. [Interruption.] I will later on. What a sorry state of affairs: the shadow Secretary of State cannot even agree with herself. There was a gaping contradiction at the heart of the shadow Secretary of State’s speech just now. For all the verbiage—for everything she said—she has no answer to the crisis before us, because even she cannot seriously believe what she is putting forward. The idea that new exploration licences for oil and gas will solve our energy security challenges
Energy Security
It is a privilege to speak in support of this Gracious Speech. This debate takes place in the shadow of the second fossil fuel shock in four years. Families and businesses across the country are deeply concerned about the impact of the Iran war on the cost of living—a war which this country did not start and this Government chose not to join, but which is having significant effects here at home, just like when Russia invaded Ukraine in 2022 and energy bills rocketed, and the British people and f
Household Energy Bills
The hon. Gentleman asks an important question. The reason why we decided to put the money into the crisis and resilience fund three weeks after this crisis began was to get the money out the door quickly. During the previous crisis, that took 200 days. He asks an important question about local authorities’ provision of support and also what happens if they do not have the funds. That is something on which we are working intensively, and we are keeping closely in touch with local authorities. We
Topical Questions
The hon. Lady raises an important issue, and I am sure that many Members will empathise as our constituents face difficult times. The Under-Secretary of State for Energy Security and Net Zero, my hon. Friend the Member for Inverclyde and Renfrewshire West (Martin McCluskey), tells me that the Competition and Markets Authority is considering all those issues. If Members encounter practices relating to heating and other things, they should bring them to the attention of my hon. Friend, because we
Topical Questions
We all love Cornwall and its incredible clean energy potential. I can confirm that we will be opening the new renewables auction in July. We see an incredibly bright future for floating wind, and we see Cornwall absolutely at the centre of that.
Topical Questions
I do not. We continue to use the North sea, and ours is a pragmatic position. But there is a wider lesson that the House has to focus on. Is the lesson of this crisis—a fossil fuels crisis—to double down on fossil fuels, or is it to drive forward with clean energy? We believe clean, home-grown power that we control is the answer.
Household Energy Bills
Families will be deeply concerned about the impacts they are facing as a result of the Iran conflict. This Government are determined to fight the people’s corner. As a result of actions in the Budget, the energy bill price cap will fall from next week and is guaranteed till the end of June. We have already provided £50 million of immediate support for vulnerable customers who use heating oil and will act to prevent unfair practices like price gouging. Above all, we will work to end this conflict
Household Energy Bills
My hon. Friend is absolutely right about that. It is an important reassurance for understandably worried families that, from 1 April, the energy price cap will fall by £117 thanks to this Government’s actions. That happened not automatically, but because the Chancellor made decisions in the Budget to raise taxes on the wealthiest, which was opposed by the Conservative party. That decision is making possible that relief for families, including those in her constituency.
Household Energy Bills
The hon. Member is right about this country’s exposure to fossil fuels, and that is the legacy of the previous Government. I am incredibly proud to say that, as a result of our two record-breaking renewables auctions, we will power the equivalent of 23 million homes. She is also right to say that the decoupling of gas and electricity prices is an important issue, on which we are working intensively.
Household Energy Bills
We published the levelised cost analysis, which showed that new renewables were much cheaper to build and operate. As gas prices are soaring across the world and hitting us here at home, the idea that the Conservative party still opposes our renewables auction, which gives us clean home-grown power on which we can rely, is absolutely nonsensical.
Household Energy Bills
Families in the right hon. Lady’s constituency will see savings on their bills from next week thanks to the actions of this Government. She is wrong on her facts, because, if we look across 2025, we will see that bills were lower in real terms than in 2024. We remain absolutely committed to our manifesto commitment to cut bills by up to £300 by 2030.
Household Energy Bills
Public services across the country, including schools and hospitals—I hope this will come to the hon. Member’s constituency—are seeing reductions in their bills, and money is being transferred to the frontline. We on the Government Benches support those proposals. We support lower bills. As I said to the right hon. Member for Aldridge-Brownhills (Wendy Morton), he can look forward to his constituents having lower bills as a result of this Government’s actions.
Household Energy Bills
The Conservatives’ plan is totally incredible, and the shadow Secretary of State knows it. Their plan on renewables is just to tear up the contracts. They had 14 years to do it, and they did not do it. Why? Because they know that they cannot. I have to say, it is quite extraordinary that her position is now to abolish the windfall tax, which has raised £12 billion since it was introduced in 2022. The difference between us and them is that we are willing to tax the oil and gas companies to help o
Household Energy Bills
First, I accept the hon. Member’s congratulations on our announcement of the future homes standards today, which are a really important measure—they should never have been abolished by the last Conservative Government. On warehouses and car parks—particularly on the warehouse question—we are looking at how we can roll that out more swiftly. There is so much unused space that could be used to help cut bills right across the country.
Middle East Conflict: Energy Security
The North sea will continue to play an important role in our energy mix for decades to come, which is why we said in our manifesto that we will keep existing oil and gas fields open for their lifetime, including, as we announced last autumn, the use of so-called tiebacks. My hon. Friend is absolutely right in the wider point he makes. That is why we have the largest nuclear building programme in half a century, it is why we have had two record-breaking renewables auctions, and it is why we recen
Topical Questions
I congratulate my hon. Friend’s local hospital. He rightly shows the way that cheap, clean, renewable power can cut bills not just for families, but for our public services, as GB Energy is doing, so that we can transfer money to frontline patient care.
Topical Questions
As a result of decisions made by my right hon. Friend the Chancellor, we are raising significant sums from the windfall tax. We do not agree with the Opposition parties that now is the time to abolish the windfall tax; we think that is really important revenue that can help many of our constituents.
Topical Questions
The Chancellor will have heard the hon. Member’s question, because she is in the room. My right hon. Friend is providing support for people but on a platform of fiscal stability, which the Conservative party would do well to understand.
Topical Questions
I am not. As I said earlier, we are using existing oil and gas fields in the North sea for their lifetime, and we have introduced tiebacks for existing fields. While the right. hon Lady comes here month after month with proposals that will do nothing to cut energy bills for people, this Government are actually taking action: reducing the energy price cap next week; making plug-in solar available to all families; the warm homes plan to drive down bills; and crucially, a renewable power auction, w
Topical Questions
Since conflict broke out in the middle east, we have acted to prevent price-gouging, help those who rely on heating oil, and ensure that businesses get a fair deal on their bills. The energy price cap will fall by £117 next week, with savings locked in until the end of June. We have also sped up work to take control of Britain’s energy, accelerating our next renewables auction and our warm homes plan. We will do whatever it takes to fight people’s corner and learn the right lessons from the cris
Middle East Conflict: Energy Security
Before the hon. Gentleman self-combusts, let me tell him that, as a result of the court decision, those projects are proceeding at risk. I will tell him the way we will make a decision. I am not going to comment on a live planning issue, but I will say in general that we will make a decision that is legally watertight. The last Government made a series of decisions that were found—[Interruption.] Conservative Members say “No, no”, but they do not care about the rule of law. We saw that when they
Middle East Conflict: Energy Security
This party and this Government are taking a pragmatic approach to these issues. We are using existing oil and gas fields for their lifetime, including with tiebacks, which is welcomed by industry, but we are not going to fly in the face of the evidence. The answer to a fossil fuels crisis is not to double down on fossil fuels, but to double down on clean home-grown power that we control. The Conservatives used to believe that, before they jumped on another bandwagon.
Middle East Conflict: Energy Security
My hon. Friend is right. Those people offer no short-term or long-term solution to the problems of energy security, and they want to fly in the face of all the evidence. As I have said before, it was the last Government who said that more UK production of North sea oil and gas would make no difference to the global price of gas, and it is important that the House understands that.
Middle East Conflict: Energy Security
I disagree with the right hon. Lady on that one. As I said in answer to my hon. Friend the Member for Edinburgh East and Musselburgh (Chris Murray), we are going to use existing North sea oil and gas fields for their lifetime. I think the right hon. Lady is referring to the question of exploration licences. What everybody says is that exploration licences make no material difference to production levels. On the tax question, I hope she will carry on supporting the windfall tax and will tell her
Middle East Conflict: Energy Security
The UK benefits from a strong and diverse energy supply, with only 1% of our crude oil and gas coming from the Gulf, but the essential lesson of this conflict is that while we are dependent on fossil fuel markets, we are exposed as a country, because prices for oil and gas, wherever it comes from, are set on the international market, affecting families and businesses. For our energy security, the answer must be to go further and faster towards home-grown clean power that we control.
Household Energy Bills
We are driving forward with contracts for difference, and we are looking at that proposal. On the hon. Gentleman’s more general point, though, he is absolutely right that rolling out renewables at speed—solar, wind, all types of renewables—is the best way to insulate ourselves from global economic shocks. That is a point that we have consistently made, which sadly is being borne out by the events we see around the world.
Household Energy Bills
My hon. Friend makes a really important point. The Conservatives come here month after month making the same argument about something that will not reduce bills by a single penny. It was they who said that during the last crisis and when they were in government. This Labour Government are about reducing people’s energy bills, which is the priority of the British people.
Household Energy Bills
First, let me congratulate my hon. Friend’s council on its great work. The Government are putting hundreds of millions more this coming year into warm homes as part of our record-breaking investment. I hope we can agree across the House that investing in home upgrades is a way to not just have more energy efficiency but cut people’s bills. We are committed to going as far and as fast as we can.
Household Energy Bills
My hon. Friend raises a really important point, and no doubt the Chancellor will cover this in her statement shortly. It is incredibly important that we protect the most vulnerable, particularly at this time. I am proud of the action we have taken to nearly double the number of people getting the warm home discount to 6 million people. This very important action will take another £150 off people’s bills, so in a sense, we have a form of a social tariff, but I assure my hon. Friend that we will k
Household Energy Bills
My hon. Friend makes the really important, and relatively basic, point that gas is priced and sold on the international market. Whether it comes from the North sea or is imported, it is charged at the same price. And do not just take my word for it; when the shadow Energy Secretary was in post she said that more drilling would not necessarily lead to lower energy bills.
Middle East Conflict: Energy Security
No, it is not. The hon. Gentleman is entitled to his own opinions, but he is not entitled to alternative facts. What the last Government said, what this Government said and what every sensible economist says about more production is that his idea of more drilling—“drill every last drop,” or “drill, baby, drill”— would be precisely the wrong thing for our country because it will make no difference to the price. The answer is home-grown clean renewables that we control.
Energy Markets
I will tell the hon. Member how much: at the cheapest, about £60 per MWh, which is far cheaper than building new gas. The fundamental point of this statement is that we will carry on with our drive to clean, home-grown power, because that is the right thing for our national interest.
Energy Markets
Somebody asked me about standing charges earlier, and I neglected to respond. One important thing that we did was transfer the warm home discount to unit rates, which helped make a difference in bearing down on standing charges. I reassure my hon. Friend, and many of his constituents and others who are concerned about this issue—I talk to Martin Lewis and others about such matters—that we continue to look at it.
Energy Markets
An important decision that we took was to extend the warm home discount not only for this winter, but for five years ahead, to give an assurance to 6 million people, including those in my hon. Friend’s constituency, that they would have protection. She speaks so well for the most vulnerable in our society and in her constituency. I reassure her that we know about people’s exposure and continue to look at all the measures that we can take to help them.
Energy Markets
My hon. Friend makes his point in a very eloquent and amusing way. It is so important to recognise that crises like this show that gambling on low fossil fuel prices is dangerous, because the impacts of geopolitical instability on his constituents and those across the country are so great.
Energy Markets
I agree with my hon. Friend. It is incumbent on all of us to tell people, on the basis of the evidence, what we should be doing as a country. Today we have heard from Members of different parties a recognition that gambling on fossil fuels is incredibly dangerous.
Energy Markets
My hon. Friend puts it incredibly well: this is about clean, home-grown power that we control. We need to get off the roller coaster of fluctuations in international markets, which does such damage to families across the country.
Energy Markets
I agree with the first part of my hon. Friend’s question, so I will take the last part on marginal pricing, as that is the challenge, and be as brief as I can. I completely understand the logic of his question. One of the benefits of a clean power system is that gas will set the price much less of the time. One of the benefits of moving from the renewables obligation to contracts for difference is that it gives us a fixed price that is not subject to the marginal price of gas. I am sympathetic t
Energy Markets
My hon. Friend was obviously a precocious five-year-old in 1979, with a great knowledge of and interest in politics. I will not speculate on the last part of his question, but what he said about the indiscriminate Iranian attacks is an important point to underline. The fundamental point he makes about driving forward with renewables, nuclear and all the things that get us off the markets is surely the lesson that we must all learn from this crisis.
Energy Markets
Last week, I said that what the Conservatives were saying about the memo was a whacky internet conspiracy theory, and they said, “No, it isn’t, so why don’t you publish it?”, so I did, and now they have nothing say. Not only did we publish our memo, but I am glad to say that we published the Conservative memo from 2015. What did that show? That we were going to get the Chinese to build nuclear power stations for us, for goodness’ sake. I urge all Members to look at the facts and the evidence, an
Energy Markets
My hon. Friend speaks wisely on these issues. I agree with what he said about how we get energy security and the right thing to do. On the question of bill payers, across Government and across the House, we are incredibly alive to and vigilant about the potential impact of the crisis. I believe there is cross-party support for the price cap, which I think is very important. In a world without the price cap, we would see much more immediate effects. That does not mean that everyone is protected,
Energy Markets
That is why we said in our manifesto that we would keep existing oil and gas fields open for their lifetime. Indeed, we did not just say it; we had a good dialogue with the industry, in which it said that one thing that would make existing oil and gas fields competitive was tiebacks to fields with new production. We listened and we accepted that. I have great respect for the right hon. Gentleman; I think the issue he is adverting to is exploration licences, because the North sea is a declining b
Energy Markets
My hon. Friend is so right. I talk to partners around the world, including in Europe, which the Liberal Democrats asked about, and elsewhere, and it is interesting that so many other countries now take this approach. The case for renewables was always a climate case, but for so many it is now as much an energy security case, because they are in a similar place to us: they are price takers, not price makers.
Energy Markets
The hon. Gentleman speaks with great eloquence on these issues on behalf of his constituents and others. He is absolutely right to say that, in a situation like this, everyone has a responsibility. The Government have a responsibility, and private companies have a responsibility too—he is right to make them aware of that. On the wider question about the impact on families, it is important that the Government are vigilant about the steps we can take to help people.
Energy Markets
My hon. Friend speaks with great eloquence on these issues, and he is absolutely right. As I said earlier, it is striking that so many countries now talk about this as an energy security issue. For the 80-plus countries that supported the road map for the transition away from fossil fuels at COP30, it was as much about energy security, about their own situation, about bills and about their fear of exposure as it was about the long-term threat that we face from the climate crisis, as crucial as t
Energy Markets
No, I do not think that is right at all. The truth about these crises is that it is incredibly important that the Government look at everything we can do, particularly to help address the impact on families and businesses, as I said a number of times in my statement. I reassure the hon. Gentleman and the House that this Government have the right strategy on energy policy. The lesson we all need to learn is that exposure to fossil fuel markets is dangerous for the country, and the best thing we c
Energy Markets
I am glad to hear that my elbow is renewable, and I agree with my hon. Friend that we must be willing to act on behalf of his constituents and others.
Energy Markets
My hon. Friend is right to raise the issue of heating oil. As I have said a number of times, it is an important issue and is very much on our radar. On her wider point, she is absolutely right.
Energy Markets
My hon. Friend is a very important advocate for his constituents and, indeed, for Project Willow. He will know that we have made a number of announcements about Grangemouth in recent months, but I can assure him that we will continue to drive forward on Project Willow. The Prime Minister has set out that £200 million will be available from the National Wealth Fund. We continue to work with private industry, because we are determined to create a future for Grangemouth and its communities.
Energy Markets
The step forward we are taking is to give more help to the energy-intensives, both this April and when we get to help 7,000 businesses next April. However, I acknowledge—as I did to, I think, one of the Conservative Members—that there is further to go on helping businesses. Energy UK and the CBI have formed a joint partnership looking at these issues, and we want to work with them. As always, one challenge is the cost of action, but we recognise the issue that my hon. Friend has raised.
Energy Markets
My hon. Friend speaks very well on these issues, and I am sure the Minister for Energy will meet the group’s members and talk to them about these issues. As she will know, we operate under guidance from the last Government about avoiding the best available land where at all possible. Even on the most ambitious plans, solar would occupy a very small fraction of agricultural land, although we had the largest ever solar auction in allocation round 7—
Energy Markets
I agree with the hon. Lady on her fundamental point about why we are exposed. Cost of living support is obviously a matter for the Prime Minister and the Chancellor, but I reiterate to her that the Chancellor showed a willingness to act on these issues in the Budget because she recognised the pressures that families are facing, and that the cost of living crisis is by far the biggest issue facing our country. At Prime Minister’s questions, the Prime Minister again reiterated that we are carefull
Energy Markets
I agree with my hon. Friend that driving to renewables and clean, home-grown power is crucial. I would also say, as I know she takes an interest in these things, that the North sea continues to play an important role in our energy mix and will do so for decades to come.
Energy Markets
The hon. Lady raises an important issue. Indeed, the Under-Secretary of State for Energy Security and Net Zero, my hon. Friend the Member for Stockton North (Chris McDonald)—who has briefly left the Chamber—is also a Minister at the Department for Business and Trade and has a particular focus on how we can help small businesses to get better deals. Better regulation of the deals they get is one area where Ofgem will have a role in what was previously an un-regulated or under-regulated market. On
Energy Markets
We use negligible amounts of fuel from China, and I can absolutely reassure my hon. Friend, and indeed his constituents, on security of supply.
Energy Markets
First, let me celebrate the opening of the plant. Indeed, I sent a video celebrating it—I am sorry I could not be there, but I congratulated my hon. Friend on his brilliant advocacy. I accept the point he makes that we have to look at all the technologies at our disposal. One of the reasons I am very glad that Lord Whitehead has joined our Department is that, as my hon. Friend will know, he has a specific brief covering alternative technologies. My view is, if it can bring down bills and help to
Energy Markets
I will not speculate on that, but one of the important things that I have emphasised in all the calls I have had and the discussions in my Department is that we must learn the lessons from what was done right in the previous Government’s response to the Russia-Ukraine crisis and also from where there were challenges. That is one of the emphases I have placed on my conversations with our civil servants, businesses and, indeed, international partners. I have heard what the right hon. Lady has said
Energy Markets
Obviously, we are in the first few days of this crisis, but the best thing I can say to my hon. Friend and hon. Members in all parts of the House who are concerned about this issue, and totally understandably so, is that we are very much aware of where the exposure is. The price cap is a guarantee, and I chose my words carefully when I said earlier that, for the vast majority of people, the price cap provides a guarantee for domestic consumers, bearing in mind that those using heating oil are mo
Energy Markets
I thank the right hon. Gentleman for his points about business and particularly about heating oil. It is a really important point, because people who are using heating oil are exposed to what is happening in the market. Obviously, it depends on when they restock their heating oil and, as I have said a number of times, how long the crisis continues, but he is right to raise that as an area we need to look at.
Energy Markets
I absolutely recognise the challenges that many businesses faced even before the crisis. It is important to say that even before the crisis began, fossil fuel prices were still 40% higher than before Russia invaded Ukraine, and businesses were facing the impacts of that. We are taking action this April on the supercharger, but that is for only 500 or so of the most energy-intensive businesses. We are also taking action next April on the British industrial competitiveness scheme, which is for 7,0
Energy Markets
I thank the hon. Lady for the point that she makes. It is worth saying that Lord Browne of Madingley, formerly of BP, was on the radio yesterday making precisely the same point that she and I have made. This is a man who used to run one of the world’s largest oil and gas companies, and he said that the lesson of this crisis is that we have to get on to clean power. On the hon. Lady’s point about networks, it is important to be transparent about that. It is also important to bear down on those co
Energy Markets
I thank my hon. Friend for his excellent questions. On the first point, he is absolutely right. I spoke to my counterpart, the Qatari Energy Minister, and it was the attacks on Qatar’s LNG terminals, and understandable fears for their workforce as a result of indiscriminate Iranian attacks, that led him to make his decisions. Iranian threats to the strait of Hormuz are preventing the passage of shipping, and my hon. Friend is absolutely right to emphasise that point. I will not speculate on my h
Energy Markets
I will answer the hon. Lady’s questions in a moment, but first I say to her that the biggest question for this House and for the country is: do we learn the lessons of these crises? Half the recessions that have happened since the 1970s have been caused by fossil-fuel price spikes. We all face a choice: we can either learn the lessons of those crises and drive towards clean, home-grown power—to be fair, at some points, that used to be the policy of the last Conservative Government—or we can pret
Energy Markets
With permission, I will make a statement about the situation in energy markets in the light of the unfolding conflict in Iran and the middle east. My thoughts are with the British citizens and those across the world affected by the events of recent days, and I thank members of our armed forces serving in the region and elsewhere. Let me update the House on the situation in global oil and gas markets and the impact on the UK. In the days since the conflict began, we have seen Iran target energy p