M

Member

Speaking in the House of Lords on 23 June 2025

Debate

Contracts for Difference (Miscellaneous Amendments) (No. 2) Regulations 2025

Contribution

People are being hit twice. First, there are higher household and business energy bills. Secondly, government departments themselves pay more for energy usage, so people have to pay higher taxes to cover those bills. It is a kind of a double whammy. Billions of pounds are being handed over without the Government acquiring anything in return. They could acquire an equity stake in return for subsidies in Drax or in any other company that receives subsidies. They could provide a repayable loan and these companies could perhaps repay that loan. But billions are being handed over without anything in return. Why make this kind of charitable donation from the public purse to highly profitable companies?

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