Here are the climate-related sections of speeches by MPs during the Commons debate Energy Markets.
12:52 Ed Miliband (Labour)
This Government have taken the decision to keep existing fields open for their lifetime, including through transitional energy certificates in our North sea future plan, as called for and welcomed by industry. They have also decided not to issue new licences to explore new fields, which the science tells us is the right thing to do, because this Government will not ignore the biggest long- term threat multiplier to our security and stability that we face: the climate crisis.
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13:04 Judith Cummins (Labour)
I call the Chair of the Energy Security and Net Zero Committee.
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13:04 Bill Esterson (Labour)
Yesterday, the Energy Security and Net Zero Committee looked at the facts and the evidence: Ofgem and NESO told us that the price cap will be in place until June as a short-term protection; that clean power 2030 is indeed the best way to avoid future exposure to the sorts of risks that we are now experiencing; that energy costs as a share of GDP will fall from their current 10% to between 5% and 6% by 2050, according to Government plans; and that there is no prospect of bringing down prices by undertaking activity in the North sea. What plans does the Secretary of State have for short-term support for bill payers? We heard evidence about the reformed national pricing consultation that is under way. May I encourage him to bring that forward, so that bill payers can benefit from the availability of low-demand cheap electricity as soon as possible, as an immediate response to this crisis?
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13:09 Graeme Downie (Labour)
Secondly, in the Energy Security and Net Zero Committee meeting yesterday, we heard from the chief executive of Ofgem that a prolonged period of closure of the strait of Hormuz would create an upward pressure on prices. He indicated during that evidence session that the market anticipated that it could manage a period of roughly two weeks. As the conflict continues to develop, does the Secretary of State have any sense of what might be meant by a “prolonged period of time” that would create upward pressure? Will he ensure that the Committee and the House are kept informed?
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13:09 Ed Miliband (Labour)
I will not speculate on my hon. Friend’s point about how long the conflict will last, but he is right to say that the longer the conflict goes on, the more impact there will be on bill payers and our economy. That is why it is in all our interests for this conflict to come to an end as soon as possible. On his other point, I undertake to keep the House and the Energy Security and Net Zero Committee informed.
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Martin Vickers (Conservative)
Representing the constituency of Brigg and Immingham as I do, I recognise that the renewable energy sector is attracting investment and jobs into the area. However, I have thousands of people who work in energy-intensive industries, and their jobs are increasingly at risk. As with everything, compromise and balance are important. May I urge the Secretary of State to recognise that the energy costs for industry are crippling many businesses? We must do something to address that.
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Wera Hobhouse (Liberal Democrat)
The Energy Security and Net Zero Committee is running an inquiry into the costs of energy, as we have already heard from its Chair. With all due respect, I cannot understand how the Conservative Opposition can with a straight face deplore the cost of energy for bill payers while at the same time advocate prolonging our dependency on oil and gas. That is precisely what keeps our energy bills high.
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13:23 Perran Moon (Labour)
It is perfectly reasonable for Opposition parties to espouse the policy of reopening oil and gas fields; it is just the wrong policy, and there is no clearer example of that than a moment like this. The only way that we can generate energy independence is by accelerating our transition to renewable energy. With that in mind, I know that the Secretary of State is very much focused on onshore wind, offshore wind and solar, but will he think again about the Department’s policy on geothermal energy? Our first geothermal energy plant has just opened in Cornwall, and we have vast deposits of geothermal energy, which could be a really useful addition to the renewable energy mix.
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13:25 Julian Lewis (Conservative)
I fully accept the argument that energy independence will be enhanced by renewable energy and in particular by nuclear energy, but everyone seems to accept that we will continue to have some dependence on fossil fuels for a considerable period of time. Although it is discouraging to hear that no matter how much we extract from the North sea, it will not lower prices—that does sound rather a strange conclusion, but I am willing to accept that it is true—the fact is that if we are going to need such supplies for a considerable period of time, they may be cut off from other sources. Therefore, security of supply is an important element of the mix. Is that not obvious?
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13:28 Ed Miliband (Labour)
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 the wider point about the impact of the crisis on small businesses, I reiterate to the hon. Lady, by way of reassurance, what I have said to other hon. Members. The Government are absolutely focused on the impact of the crisis on households and indeed businesses, and we will not hesitate to act.
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13:28 Catherine Fookes (Labour)
I thank the Secretary of State for his statement and for the Government’s laser focus on renewable energy in England and Wales. Does he agree that this should deliver basically a triple whammy for us? We will not be at the mercy of foreign states for our energy, bills for consumers will go down and, finally, we will reduce the impact of the biggest threat to our planet, which is climate change.
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Ed Miliband (Labour)
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 that is.
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Dave Robertson (Labour)
There is precious little good news around at the moment, but I may have some for the Secretary of State. I have listened to the contributions from those on the Opposition Benches, and I think I have discovered a new renewable energy source: the amount of hot air coming from that side of the House could surely heat 100 homes. At a time when prices are spiking and profits are about to rise, does the Secretary of State think that his constituents in Doncaster North would welcome it if we did what the shadow Minister suggested and cut the energy profits levy? My constituents in Lichfield, Burntwood and the villages would not appreciate it if we let companies off like that.
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