Michael Shanks

Michael Shanks

Labour — Rutherglen

Speaking in the House of Commons on 21 October 2026

Debate

Jackdaw Gasfield

Contribution

I agree with my hon. Friend about the absolute priority. He is absolutely right to say that this decision will not take a penny off bills. We have been consistent on that throughout. We are a price taker as a country, and no number of consenting decisions will change the fact that gas is traded on the international market and the decision is of marginal impact on the overall price; it does not have an impact on that. Nevertheless, the gas resulting from this decision will account for around 5% of domestic gas production, so the decision is important from a security point of view. My hon. Friend’s wider point is about how we move many more people over to electricity and then bring down the cost of electricity. We are doing all we can to break the link with gas; that is absolutely critical. Electricity bills have gone up in the last two price caps because of our exposure to fossil fuels. That is affected by a war thousands of miles away that we had no part in. We are already making progress. A few years ago, 90% of the electricity price was set by gas. The figure is now 60%, and is going down all the time, but we have much more to do on that. Evidence from the past few months has shown that the people who are being supported to take up heat pumps or solar panels are off-grid households, which face the impact of heating oil prices. They have taken up those opportunities. The public are behind us on this; we just need to make it as straightforward as possible. That is what the warm homes plan will deliver.

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