Polly Billington MP: speeches

Speeches

• 1 Sept 2026 · Draft Energy Prices Act 2022 (Extension of Time Limit) (No. 2) Regulations 2026 · Hansard source

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  I thank the right hon. Gentleman for his intervention. It is very clear. As I said, we absolutely stand by our commitment. The previous Energy Secretary, my right hon. Friend the Member for Doncaster North (Ed Miliband), said: “Bills are too high and we stand by our promise to get bills down by up to £300 by 2030.” We have already taken £150 off bills as a consequence of the decisions made in the previous Budget. The new Prime Minister has announced a £45 reduction on average across an energy bill because of the reduction in VAT. The independent Resolution Foundation found that across 2026 as a whole, the typical energy bill is now expected to be more than £200 lower in real terms than in 2024 before the conflict in the middle east began. I understand that the right hon. Member for Beverley and Holderness knows a lot about the energy system and I respect his understanding, but when there are global shocks like there are, we have to do everything we can as a Government to protect consumers from those global shocks. That includes the short term with the efforts we are putting in now, and the long term in reforming the market. I look forward to seeing him supporting our reform of that market in order to be able to protect consumers in the future. The UK has a diverse and resilient energy system—indeed, one that the right hon. Gentleman oversaw for some time—and we will of course continue to monitor the situation in the middle east closely. I assure colleagues that contingency planning is taking place for every eventuality to ensure that the Government can be responsive and responsible. It is important to understand that we need a principled reform to shift the balance of levy costs from the bill to the Exchequer, because we need to make sure that that is a fairer way of dealing with the cost of a shift to a cleaner and more resilient energy system. The reason we have given for not abolishing the renewables obligation, which is a suggestion from the Conservatives, is that it would significantly impact on investor confidence and energy security. There is a risk of there being no certainty that 25,000 renewable energy projects would continue generating without that subsidy. I am sure that His Majesty’s Opposition would not want a set of policy proposals that would threaten the security of our energy system in that way. The draft regulations extend a time limit on essential legal powers that will enable us to take action to reduce people’s energy bills. While simple in themselves, the regulations support the reduction of energy bills, which is a key part of the Government’s focus on the cost of living. Question put and agreed to.