Kwasi Kwarteng: I know that Bristol has a strong tradition of green, carbon-reducing policies. I should be happy to visit the city and see the great work that is being done there. It is a part of the world that I know well from Airbus and other great industrial concerns.
Kwasi Kwarteng: All these issues are being looked at. The six-month periods for the price cap are being reviewed, and, as I have said, financial resilience for new entrants will be considered. A subject that has not been mentioned so far is the future system operator and the electricity system operator. That is a remarkable innovation, and I am proud that it is included in the document. I should be happy to...
Kwasi Kwarteng: As the right hon. Gentleman will know, in the time during which I—indeed, I suspect, both of us—have been in the House, renewables have really taken off. They are the one bit of the energy story here in the UK that has been genuinely transformative and a world leader, and I am very proud of that. As for the immediate support for hard-pressed consumers facing a global price hike, my right...
Kwasi Kwarteng: I had a feeling that my hon. Friend was going to mention Loughborough. She will know that we are absolutely committed to hydrogen. It has many uses: it can be used, potentially, in the gas grid, in transport—to which she alluded—and in industrial processes. We are very excited about the opportunities, outlined in the strategy, for more capacity so that we can drive innovation in those areas.
Kwasi Kwarteng: There has been an issue with the wholesale gas price, which has gone up about 10 times during that period. It seems entirely reasonable, if we have gas underneath our feet, to consider the possibility of using it.
Kwasi Kwarteng: I should be very happy to go with my hon. Friend to see the nuclear reactors. The future is decarbonised baseload power. That is what we need, and it is something with which my hon. Friend and I are 100% aligned.
Kwasi Kwarteng: That obviously refers, relatively, to whatever the wholesale price of gas will be. I am not a gas trader, and nor is the hon. Gentleman. He has no idea what the wholesale gas price will be either. The strategy will have a tendency to lower prices.
Kwasi Kwarteng: We are in constant conversation about this. It was a hard-earned win for the Government, and we are very pleased to be backing steel. My hon. Friend knows of my commitment to the industry. We have won some battles, and I look forward to engaging with him on this in the future.
Kwasi Kwarteng: There was drilling, and I remember it well. When I was the Energy Minister, I was receiving daily updates on the Richter scale, and yes, there were moments—there were times—when the level exceeded the limit that we had imposed. I think it entirely legitimate now, given where gas prices are, to look again at some of the evidence.
Kwasi Kwarteng: My right hon. Friend knows very well that the chemical industry is central not only to people in his constituency, but to those throughout the north-east. We engage with energy-intensive sectors such as the glass, steel and chemical sectors, and others.
Kwasi Kwarteng: Ceramics, yes. All those industries are covered by the energy-intensive scheme that we want to promote.
Kwasi Kwarteng: The hon. Lady is absolutely right. That is why, when I was the Energy Minister, I—along with my right hon. Friend the Member for South Staffordshire (Sir Gavin Williamson), the then Education Secretary—set up the green jobs taskforce, working with unions across the sector. We came up with some very good proposals. We are driving that forward, because we recognise the skills gap and want...
Kwasi Kwarteng: I think I would be getting a bit ahead of myself if I were to decide here and now at the Dispatch Box where that body will be sited, but I pay tribute to my hon. Friend’s tireless and passionate advocacy for the nuclear industry. She, among a number of others in this Chamber, has been a brilliant champion, and I look forward to working with her to drive nuclear power in Wylfa and across...
Kwasi Kwarteng: As I said in an earlier answer, I speak to the industry all the time. This has been raised, and we want to prevent people from having to take up prepayment metres if they can avoid it. That is something that we have done through a number of interventions to try to reduce the impact of very high prices globally. I also refer the right hon. Gentleman to the fact that my right hon. Friend the...
Kwasi Kwarteng: My hon. Friend will have noticed that there is a commitment in the strategy to energy-intensive users. From his first day here, he has been a tireless champion of the ceramics industry. I was pleased to see him in his constituency when I went there, and to the other Stoke constituencies. I look forward to working with him to ensure that we protect our precious ceramics industry in the UK.
Kwasi Kwarteng: With permission, Mr Speaker, I will make a statement on the British energy security strategy. Our strategy provides a clear, long-term plan to accelerate our transition away from expensive fossil fuel prices set by global markets we cannot control. It builds on our success over the past decade in which we gave the go-ahead to the first nuclear power plant in a generation and achieved a...
Kwasi Kwarteng: As the hon. Gentleman knows, the energy price cap continues to protect consumers in a world where gas prices have more than quintupled in a year, and I strongly expect that it will continue to do so.
Kwasi Kwarteng: As the hon. Gentleman will know, we believe that a windfall tax in this situation would be a tax on jobs, destroy investment and add to the uncertainty in oil markets. It would send completely the wrong message to investors, as well as to people who are invested in markets. Every one of us, anyone with a pension, would be adversely affected by such a tax.
Kwasi Kwarteng: I am grateful to my right hon. Friend for that question. As he knows, the current EPC system is not perfect, but it does capture the significant improvement that has happened over the past few years. I am happy to consider people off grid and the challenges that they face from oil prices, and I would be happy to speak to him about that.
Kwasi Kwarteng: As the hon. Gentleman knows, my right hon. Friend the Chancellor of the Exchequer announced an extensive package of support only a few weeks ago worth £9.1 billion—that included a £150 council tax rebate for bands A to D and £144 million in discretionary funding for local authorities—which affects everybody in this country. I am also very happy to engage with him on the specific issue...