Rachel Reeves

Rachel Reeves

Labour — Leeds West and Pudsey

Speaking in the House of Commons on 21 April 2026

Debate

Middle East: Economic Update

Contribution

I thank the Chair of the Energy Security and Net Zero Committee for that question, and for his important work on this issue. There are two ways to reduce the number of days in which the gas price sets the electricity price. First is to invest more in home-grown renewables and in nuclear, so that more of the mix is made up of electricity. The second way is to delink gas and electricity prices, first by increasing the electricity generators levy to bring in money but also—this is crucial—by incentivising those companies that are currently getting the market price to go instead on to a contract for difference, which gives greater certainty for families, pensioners and businesses with their bills. That is exactly what we are doing.

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