Oral Answers to Questions

Caroline Lucas Excerpts

Tuesday 22nd February 2022 Commons Chamber

[Kwasi Kwarteng]

There has been a critical issue with very high wholesale prices, which as I speak are about 200p a therm, whereas at the beginning of last year they were 50p a therm or lower; there has been a quadrupling of the price. The energy price cap has protected consumers, but we are talking to Ofgem all the time about how we can refine the cap to make it more sensitive to wholesale prices in the market.

[Caroline Lucas (Brighton, Pavilion) (Green)]

Today marks the start of International Energy Week, formerly International Petroleum Week. The Secretary of State was billed to open the event, and he will know that, despite the rebrand, the lead sponsors include fossil fuel giant BP, which is investing just 2.3% of annual capital expenditure into the jobs-rich green energy sector. When will the Government end their cosy relationship with the fossil fuel dinosaurs and replace the outdated duty to maximise economic recovery with a duty to minimise the extraction of North sea oil and gas and to maximise clean, green jobs instead?

[Kwasi Kwarteng]

The hon. Lady will know that we have committed to the “Net Zero Strategy”, which was lauded across the world as a world-beating document. She also knows that, as I have said repeatedly and my right hon. Friend the Minister for Energy, Clean Growth and Climate Change has also said, we are committed to a transition, not extinction. We have to work with fossil fuel companies and the industry to transition to a net zero future, and that is exactly what we are prepared to do.