Graham Stuart, Member of Parliament for Beverley and Holderness, welcomed the Government’s Energy Security plan which will cut household bills and deliver clean and secure energy sources for Britain, from Britain.
Since 2010, the UK has seen £198 billion of investment into low carbon energy, through a mixture of Government funding, private investment and levies on consumer bills. Going forward it is anticipated around £100 billion of private investment will be forthcoming into the UK’s energy revolution.
The UK has also broken numerous records in generating renewable electricity, leading the world in offshore wind and, as a result, the UK is now in prime position to export its world-leading expertise. This will drive green growth at home and abroad and see British businesses set the standard for a clean, secure and prosperous future.
These measures go further to secure the UK’s energy security by investing in new British nuclear power, Carbon Capture, Utilisation and Storage and the emerging floating offshore wind industry.
The next generation of British nuclear power will be backed by Great British Nuclear, the Small Modular Reactor competition and the £120 million Nuclear Enabling Fund.
Furthermore, the Government will also bolster the UK’s energy storage with a world-leading commitment to Carbon Capture, Utilisation and Storage. Eight projects will be backed by £20 billion of funding, securing up to 50,000 jobs as a result.
Prime Minister Rishi Sunak said: “We are stepping up to power Britain and ensure our energy security in the long term with more affordable, clean energy from Britain, so we can drive down energy prices and grow our economy. That’s why we’re driving forward plans to boost renewables, revive nuclear and build new thriving industries like carbon capture, which will in turn create good jobs across the country, provide new opportunities for British businesses at home and abroad, and maintain our world-leading action to reach net zero.”
Graham Stuart commented: “This package will unlock billions in green investment to secure our energy future. We are taking enormous strides towards reducing our reliance on volatile fossil fuel markets and our Energy Security plan will harness the power of renewable energy to deliver a safer and greener energy future.”
