Mr Toby Perkins

Contribution

My right hon. Friend is absolutely right to expose the utter folly of responding to the situation that faces us by saying, “We need to stop with renewables and invest more in oil and gas.” It would be utter madness to learn that lesson. When we had the huge price spike as a result of Russia’s invasion of Ukraine, the fact that oil and gas was coming from the UK made no difference to the amount that our consumers paid, because it was all on the global market. Does my right hon. Friend agree that the marginal pricing system, which was set up at a time when 80% or 90% of energy was being generated by fossil fuels, is far less robust at a time when the figure for gas is down to 40% and shrinking the entire time, and more than 50% of our energy comes from renewable sources? Because renewables are cheaper, should we not look to benefit from that, rather than having a system that allows gas to set the price, even if it accounts for only 1% of our energy?

About Hansard

Hansard is the official verbatim record of proceedings in the UK Parliament. Every word spoken in the Commons and Lords is recorded and published — this page is a single contribution from that record.

For Mr Toby Perkins's full parliamentary record including voting history, expenses and all other contributions, see the Mr Toby Perkins report card.

Contribution

More from Mr Toby Perkins

About Hansard