Renewable Energy

Lord Berkeley Excerpts

Tuesday 15th September 2020 Lords Chamber

[Lord Callanan (Con)]

The noble Lord will understand that the spending review is of course a matter for the Treasury and that I cannot comment ahead of its decisions. However, we are prioritising investment in the renewables sector. We are accelerating new capacity through the contracts for difference scheme, which gives us certainty to drive private sector investment and has been very successful in driving down costs.

[Lord Berkeley (Lab) [V]]

I am grateful to the Minister for that Answer. Do the Government have any plans to go above the 65% renewables target in this NIC report? Secondly—[Inaudible]—the Government not to build any more nuclear power stations. Based on Hinkley Point’s mushrooming costs, which are even higher than HS2’s, they would do better to carry on with more renewables, as the report shows that their costs are coming down significantly.

[Lord Callanan (Con)]

I think I caught most of that question. The noble Lord is correct that renewables such as wind and solar are now some of the cheapest forms of generation per unit. These technologies are key to meeting net zero but will need to be complemented by other sources of power, including nuclear, which are available when the wind does not blow and the sun does not shine.