Michael Shanks

Michael Shanks

Labour — Rutherglen

Speaking in the House of Commons on 16 January 2025

Debate

Marine Renewables Industry

Contribution

The right hon. Gentleman makes an extremely important point. One of the things we announced before Christmas in the clean power action plan was the broad outline of where we see allocation round 7 progressing this year, alongside the clean industry bonus. We will be saying more about that in the weeks ahead when we launch the initial information on what it will look like, but I am glad that the right hon. Gentleman is not surprised that I cannot announce anything today about what ringfences might be in place. It is a tricky balance. The aim of the CfD and the reason that it is effective at what we want it to do is that it has to balance the deployment targets that we want to see with the critical role of delivering value for money for those who will end up paying for it—the consumers and all our constituents. Ringfences have an important role to play, but there is a danger that a ringfence could lead to us paying significantly more for a particular technology than we might want to.

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