Clause 133 — Financial provisions

Part of Energy Bill – in the House of Commons at 6:19 pm on 4 June 2013.

Alert me about debates like this

Photo of Caroline Flint Caroline Flint Shadow Secretary of State for Energy and Climate Change 6:19, 4 June 2013

I enjoy many train rides from Yorkshire with the hon. Gentleman, but I will not give way to him as he has not been present all day for this debate. If he gets a chance, he can make his comments later.

Her Majesty’s Opposition are absolutely committed to decarbonisation of the power sector. The reasons for that are simple. First, the biggest driver of soaring energy bills is rising global gas prices. Cleaning up our power supply and investing in energy efficiency would lead to lower, not higher, bills. Secondly, the best way of improving our energy security is to take advantage of the natural energy sources in our own country. This is the windiest country in Europe, and when it comes to marine energy, Britain really can rule the waves, but businesses will only invest, and bring jobs and growth to this country if they see that the Government back decarbonisation. As my hon. Friend the Member for Wansbeck said, we should give confidence to those who wish to invest in carbon capture and storage and put us at the forefront of clean coal. Thirdly, if we cannot decarbonise the power sector, we will not be able to reduce the country’s carbon footprint, and if we cannot do that, we will face a future of chaotic weather, rising sea levels, flooded homes, failing harvests and drought.

If the other place is not able to rectify the omission of a decarbonisation target from this Bill, we will do so in government. Our determination to clean up the power supply is matched by our commitment to reform the energy market and to make it work in the public interest. So, on decarbonisation and fairer bills for consumers, we regret what is missing from this Bill, and make a commitment to put it right.

Investors should draw confidence, however, from the fact that there is broad cross-party support for many of the provisions in the Bill, and, on our part, there is the political will to deliver a lasting framework to bring forward investment in low-carbon electricity generation. On that basis, we will not oppose the Bill on Third Reading, but it is to be regretted that a dirty deal with the Liberal Democrats has once again blocked the path to clean energy and all the benefits it could bring.