Tories’ gas plan won’t lower bills
Minister’s energy policy admission
They have given up on trying to lower bills to hand out subsidies
THE Tories admit their North Sea oil and gas plan will not bring down energy bills.
The King’s Speech today will include legislation that will mean new production licences are handed out on an annual basis.
But Energy Secretary Claire Coutinho yesterday confirmed consumers would not see a fall in their gas and electricity prices.
Asked if the move would help families, the Tory minister told BBC Breakfast: “It wouldn’t necessarily bring energy bills down, that’s not what we’re saying”.
Instead she suggested that handing out more oil and gas licences would increase tax revenues, which could be used to support those on low incomes. It came as Prime Minister Rishi Sunak toured the Bacton Gas Terminal in Norfolk.
Ed Miliband, Shadow Energy Secretary, said: “It is a stunning admission that, during the worst energy bills crisis in generations, their flagship energy policy won’t even take a penny off energy bills,
“The Conservatives are so out of touch that they have given up trying to bring down energy bills. Instead, they will hand billions of taxpayer subsidies to the oil and gas companies making record profits, undermine our energy security and contribute to climate disaster.”
Offshore Energies UK, the leading trade body for the sector, said there are 284 active oil and gas fields in the North Sea and by 2030 about 180 of those will have ceased production due to natural decline. The Government’s plan for what laws it wants to introduce before the next election will be read out in Parliament by King Charles. Plans to finally force criminals to attend their sentencing hearings will be included in the list of proposals.