Net Zero: 2050 Target
Debate between Gavin Newlands and Christopher Chope(10 months, 4 weeks ago)
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Gavin Newlands (Paisley and Renfrewshire North) (SNP)
It is a pleasure to serve with you in the Chair, Sir Christopher. I admire the chutzpah of the right hon. Member for Spelthorne (Kwasi Kwarteng) in bringing forward the debate. Not only did he make questionable decisions as Secretary of State for Business, Energy and Industrial Strategy with regard to Scotland’s net zero ambitions, but he was then responsible—along with the previous Prime Minister—for crashing the economy and making net zero far more expensive for this Government, as well as everyone else, due to the soaring cost of borrowing for capital investment.
The right hon. Member spoke about nuclear energy; we really need to move away from the nuclear obsession. Hinkley will now cost £33 billion and it is years late. Sizewell C, which will invariably cost upwards of £40 billion, is located on a site subject to coastal erosion and climate change sea rises. SMRs are not the answer, either. There is no approved design, they have an estimated cost of £2 billion each and Rolls-Royce is hoping for an initial order of up to 15. That is £30 billion of commitment better spent on energy-efficiency measures, storage and the electrification of heating. Nuclear is also inflexible and not a good accompaniment for intermittent renewables. Yet further investment in storage is therefore required.
The right hon. Member described pumped-storage hydro as a Scottish technology. The First Minister recently wrote to the Prime Minister urging him to agree a cap and floor mechanism that will get Coire Glas, the Cruachan extension and other pumped-storage hydro schemes up and running. They cost a fraction of what nuclear does and need only the revenue mechanism to release private capital investment.
Contracts for difference have been a success in delivering the deployment of renewables. However, in the Tories’ typical penny-wise, pound-foolish attitude, their lowest cost obsession has seen a major failure to develop UK supply chains properly. It is Tory procurement processes that have prevented Scotland from properly becoming the Saudi Arabia of wind. It is crystal-clear that a coherent industrial strategy is required. That said, I am pretty sure that we had one, and we all know what happened to it lately. The failure to invest—[Interruption.]
Sir Christopher Chope (in the Chair)
Does the right hon. Member for Spelthorne (Kwasi Kwarteng) seek to intervene?
