Ed Miliband

At a lower price. This floating offshore wind farm alone is double the size of all of Europe’s installed floating offshore wind capacity. In addition, on tidal, where Britain has huge leadership opportunities, we have secured six new tidal stream projects at the lowest ever price. Fourthly, on fixed offshore wind, in contrast to the zero GW secured in last year’s round, we have secured 4.9 GW of offshore wind, enough to power the equivalent of 8 million homes. That includes securing both the largest and second largest offshore wind projects in Europe—Hornsea 3 and Hornsea 4 off the Yorkshire coast. An industry flat on its back because of the mistakes of the last Government is back on its feet thanks to this Government. I can also report to the House that across the whole auction all these results were secured at prices well below the maximum price limit—prices that demonstrate that wind and solar are the cheapest sources of power to build and operate in our country. For the House’s benefit, that means a clearing price for offshore wind that is five to seven times lower than electricity prices driven by gas at the peak of the energy crisis. The success of this round does not just offer greater energy security for the British people; it also offers the possibility of good jobs throughout Britain. But that will not happen without action by Government, because we know that too often in the past renewable energy produced in Britain has not created enough good jobs in Britain. With Great British Energy and our national wealth fund, we will invest to make sure our clean power mission produces jobs in every corner of the United Kingdom. This Government have been in office for less than two months. In that time, we have lifted the onshore wind ban, consented more nationally significant solar capacity in one week than the last Government did in 14 years, and now delivered the most successful renewables auction in the history of the country. And on Thursday we will debate the Second Reading of the Great British Energy Bill. This is a Government in a hurry to deliver our mission: energy security, lower bills, good jobs and tackling the climate crisis. I commend this statement to the House.