Annual Energy Statement

Nia Griffith Excerpts

Wednesday 23rd November 2011 Commons Chamber

[Nia Griffith (Llanelli) (Lab)]

Energy companies often cite investment in generating power as the reason for the price rises. What assessment has the Secretary of State made of the amount of money made on the price rises compared with the companies’ investment in generating power?

[Chris Huhne]

The hon. Lady raises an interesting point. The need for new investment is clearly factored into the price projections in the documentation. It is not just about the rise in the overall world price in gas that is driving what is happening to our bills but the need to build a quarter of the capacity that is coming offline. That is factored into the calculations.