Peter Aldous questions the Government on the impact of changes to tax policy on electricity generators on investment in clean, low-carbon energy infrastructure that is crucial to creating long-term, rewarding jobs in coastal areas such as Waveney.
The Waveney constituency and across East Anglia much is being achieved through harnessing natural resources. Parts of one of the largest clusters of offshore wind farms in the world are either in operation, being built, or being planned. 4GW of power is already operational off the East Anglian coast, accounting for over 50% of the UK’s installed capacity.
This success is being mirrored in energy hot spots around the UK and, with potential developments in the pipeline, we will be able to provide much of the Government’s newly revised higher target of 40GW by 2030 and subsequently 75GW by 2050.
The Government must work collaboratively with local communities and industry when developing the regulatory framework to ensure that industry is not disadvantaged.
There are a number of opportunities for the oil & gas sector as the UK transforms to net zero carbon emissions. The sector has an ongoing role in providing energy security and it clearly reduces carbon footprint to use UK oil and gas rather than imports. The industry can act as a bridge to a low-carbon future, promoting the use of gas, hydrogen and carbon capture, utilisation and storage. There are transferable skills to the offshore renewables sector and, finally, the large amount of work in the decommissioning of oil and gas assets in the North Sea.
Nuclear energy also has an important part to play in providing long-term low-carbon energy security and it is important we press ahead with projects such as Sizewell C in Suffolk.
Finally, with the UK having 50% of Europe’s tidal energy and 35% of its wave energy, the UK is in pole position to be the world leader in this sector, which could contribute to the UK’s future energy mix, further improving self-sufficiency. We should support these emerging technologies to bring down their costs, and consider funding arrangements to support them in their early stages, as we did with solar and wind.
Peter Aldous is working with Power for People and sponsoring the Local Electricity Bill to deliver more clean, local energy that benefits local communities.
Peter Aldous calls on the Government to ensure that the regulatory framework for its hydrogen strategy is sufficiently flexible to also incentivise hydrogen projects in areas outside the identified low-carbon clusters.
Following a statement on the energy profits levy; the new 25% surcharge on the oil and gas sector, Peter Aldous seeks assurances from the Government that the levy will not imperil vital investment in the transition to a low-carbon economy and the creation of long-term jobs in emerging industries such as offshore wind, hydrogen and carbon capture and storage, which are very important in coastal communities.
At the start of the new Parliamentary session, Peter Aldous speaks in the debate on the Queen’s Speech and outlines the areas where he believes the Government needs to focus; more targeted assistance to help people with the cost of living crisis, helping everyone realise their full potential, address the challenges in energy supply and the transition to net zero, and reduce NHS waiting lists and the lack of NHS dentists.
Speaking in response to an Opposition Day motion calling for a windfall tax on North Sea oil and gas producers, Peter Aldous recognises that the Government needs to help households facing very high energy bills, but says that such a tax would have untold negative consequences.
Peter Aldous calls for a meeting with the Prime Minister to discuss the opportunities for East Anglia to be a global exemplar in new and revitalised industries such as low-carbon energy and sustainable fishing, and establish a strategy to realise the region’s full potential.
Peter Aldous leads a Westminster Hall debate on the future of enterprise zones in the Waveney area, supporting proposals to reallocate 7.8 hectares of enterprise zone land from the South Lowestoft industrial estate to the port area to encourage clean energy and fishing-related developments. He also calls for the reintroduction of the rates relief incentive for a further five years.
Peter Aldous highlights the clear groundswell of support for community energy schemes across the country and calls on the Government to work with Ofgem to remove the regulatory barriers currently preventing local communities from playing their part in getting to net zero.
Peter Aldous backs the Nuclear Energy (Financing) Bill to enable construction of Sizewell C in Suffolk which will improve energy security, increase low-carbon energy production, and bring enduring jobs and prosperity to local people. This is an opportunity to leave an enduring legacy of knowledge, skills and infrastructure which in the long term, can make Lowestoft and Waveney an attractive location in which to set up and grow a business.