In anticipation of further pressures in the energy market resulting from a Russian invasion of Ukraine, Burnley and Padiham MP Antony Higginbotham spoke in Parliament to ask what is being done to ensure stability in energy prices through security of supply.
Speaking in the Commons Antony said:
Global energy prices continue to be very volatile which is a big concern to constituents of mine in Burnley and Padiham. We know a reason of this is the weaponisation of energy by countries like Russia, which has only highlighted how we need to not rely on hostile state actors.
So could the Minister set out what we’re doing to ensure secure of supply, not just now but for decades to come.
Responding, the Minister of State for Business, Energy and Clean Growth Greg Hands MP said:
Energy securing is an absolute priority of this Government. Our exposure to global gas prices underscores the importance, both of our own North Sea gas production, but also of building a strong renewable sector to reduce our reliance on energy imports in the first place.
To this end we have recently published both a comprehensive Net Zero Strategy and the North Sea Transition Deal.
The North Sea Transition Deal sets out an ambitious plan for how the UK’s offshore oil and gas sector and the government will work together to deliver the skills, innovation and new infrastructure required to meet stretching greenhouse gas emissions reduction targets.
The Deal aims to support and anchor the expert supply chain that has built up around oil and gas in the UK, to both safeguard and create new high-quality jobs by transforming the sector in preparation for a net zero future.
At present the UK imports approx. one-fifth of total gas supply, with Russian gas accounting for just under 2%. This is significantly lower than European counterparts such as Germany who import up to 17% of their energy supply from Russia, placing a huge pressure on our allies if Russia were to use the supply in the row over Ukraine.
Speaking after the debate Antony said:
I know many residents are concerned with the price of energy, and with recent developments on the world stage it's more important than ever that we ensure we have security in our supply.
Importing gas supplies from allies such as the USA or Norway seems the much more sensible option and whilst we’re lucky to not directly purchase a significant volume from Russia, any reduction in Russian gas supplies will have consequences for our allies in Europe which will invariably impact us too.
The point I was raising in Parliament was about us utilising the resources we have within the UK whilst at the same time putting the investment into renewables so that we can be self-sufficient. It's these two things that when combined will ensure we bring down energy bills and that’s what I'll continue to push for in Parliament.
