L

Lord Hunt of Kings Heath (Lab)

Speaking in the House of Lords on 14 January 2025

Debate

Gas Storage Levels

Contribution

My Lords, I was present during the debate on Thursday on the Select Committee’s excellent report on this very subject. I refer my friend the noble Baroness to the action plan that my department issued only a few weeks ago, estimating that between 40 gigawatts and 50 gigawatts of dispatchable and long-duration flexible capacity could be needed by 2030. We are going to take a number of interventions to ensure that this happens. We have already announced a ground-breaking deal with Net Zero Teesside, our first power CCUS project. We are developing a hydrogen-to-power business model to derisk investment in that area. Ofgem will be introducing the cap and floor scheme to support investment in long-term duration electricity storage. We aim to open the scheme to applications in quarter 2 of 2025. We fully take on board the point that the noble Baroness makes and the Select Committee report.

More from Lord Hunt of Kings Heath (Lab)

Other recent Hansard contributions by the same speaker.

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.

Partner sites