EU Internal Electricity Market
1/210. What recent discussions he has had with his EU counterparts on the UK’s participation in the EU’s internal electricity market.
Co-operation with our EU counterparts is vitally important when it comes to energy security. I recently travelled to the WindEurope conference in Madrid, where I joined other European Ministers to discuss how recent global events have shown that we have to work together to deliver on our energy security. We have held constructive discussions with the EU on the internal electricity market and those continue.
At a time of intense geopolitical instability, British households remain particularly exposed to volatile global energy prices. Indeed, Ofcom has announced a 13% rise in the energy price cap from July. Given that there are interconnectors with six European countries already, does the Minister agree with a coterie of esteemed energy economists that the single greatest thing that this Government could do to strengthen our energy security, drive long-term investment in renewable energy and bring down bills would be to recouple our electricity market with that of the European Union? [Interruption.]
I agree with the hon. Member. We have this bizarre situation where we have chuntering from the Opposition Front Benchers about the fact that we have interconnections with Europe. We have had them for decades, and they are important to our energy security. That was the case under both Governments, and theirs is an absurd position. He is absolutely right to say that in a moment of geopolitical uncertainty, closer links with Europe are important. Our interconnectors import and export every single day to the benefit of consumers in Britain. We want to see much more efficient energy trading, and that is why we are working on those formal negotiations about the EU internal electricity market, which is important for Britain.