EU Referendum: Energy and Environment — House of Commons, 2016-07-12
Topic: Energy
Robert Andrew Raymond Syms (Conservative, Centre-right): I shall make a little progress, if I may My guess is that we will have enabling legislation and we will deal at our leisure with the consequences of Britain leaving in terms of the detail and the European directives we have signed over the years, with this Government and future Governments determining their priorities I now wish to talk about energy. I am sure that when the Secretary of State was given her tasks the first thing the Prime Minister said to her was, "Don’t let the lights go out." Given the capacity, the grid and demand, that is probably her principal concern in her job and it was probably the principal concern of her predecessors. I am pleased with many of the things that the Government have done, but we do have to increase capacity, and where I disagree with the comments from the SNP and others is on the fact that we do need nuclear capacity as part of that. Whether the deal is a good or bad one depends on crystal ball-gazing over the next 40 years as to what will happen with energy prices. They are terribly difficult to predict. All I predict is that they will go up and they will go down, but I do not know when. In the last Parliament, the Labour party had a policy of freezing energy prices, but the moment the party made that its policy, energy prices started to fall, which proved that freezing them was probably the worst thing to do. We all know that energy prices go up and down, and that that is to do with the market; it is not necessarily about our being in the EU I also caution colleagues against drawing any long-term conclusions from what has happened in the markets, given that it has been only about two weeks since we had a vote to leave the EU. Long-term interest rates have fallen, the pound has gone up and gone down, and markets have gone up and gone down. I suspect that over the next year or two there will be a bumpy ride in some markets as decisions have to be made on our future. The UK Government have to do our best to increase capacity, and that means nuclear power, more gas and fracking. I know a lot of people do not like fracking, but there is a natural resource that we have to make use of. There is one area where I might have some disagreement with the Secretary of State. She mentioned running down some of the coal-fired power stations, but until we are certain that some of the investment is starting to kick in, I would be a little reluctant to close off some of that capacity, because it will be challenge for us to keep the lights on in the future. The problems we have in capacity are largely caused not by this Government or the coalition Government, but by the previous Labour Governments, who put off taking decisions. In particular, they had a White Paper that did not even include nuclear power. I welcome a lot of what the coalition Government did and what this Government have done, but we need to improve confidence and investment so that we have more capacity in the energy market I welcome a lot of what the Government have done. There is no reason why this country should not still be at the forefront of fighting environmental damage. I still think this country can provide lessons to the EU. I do not believe our leaving will be a disaster; it is a great opportunity for our country. We have to make it a success, and I am sure this Parliament is perfectly capable of making decisions that benefit our citizens rather more than some of those made in the EU.