Pippa Heylings

The conflict in the middle east reminds us again how dangerously exposed the UK is to volatile global fossil fuel markets. Forecasts by the Joseph Rowntree Foundation have shown that, just as happened after Putin’s illegal invasion of Ukraine, energy bills could go up dramatically, placing further pressure on families and businesses that are struggling, while energy companies make profits. The leader of the Liberal Democrats, my right hon. Friend the Member for Kingston and Surbiton (Ed Davey), asked the Prime Minister yesterday to give a cast-iron guarantee that he would not let energy bills rise by £500 this year, but he did not. Will the Secretary of State give that guarantee? Why are we so exposed? Because of our heavy reliance on gas, limited storage capacity, dependence on imports, and falling domestic liquefied natural gas inventories. As recently as January, the Conservatives were arguing in favour of continued reliance on gas, due to the price falling at that time, but it has taken less than two months for them to be proven wrong. Meanwhile, given the instability in European energy markets caused by the ongoing conflicts, I am glad to hear that the Secretary of State has engaged with energy counterparts in the EU. I would like to hear more details of their analysis of the potential impact on supply, prices and regional energy security.