Bills will keep rising without switch to home-grown power, Miliband suggests
UK Energy Secretary Ed Miliband has suggested he fears “bills will keep rising” without a switch to “clean home-grown power”.
On Thursday, a jump in inflation was accredited to higher-than-expected energy prices, as well as rising water bills and bus fares.
It came as the Bank of England cut interest rates to 4.5% but painted a gloomy picture for the UK economy overall.
Former Labour leader Mr Miliband told the BBC that the UK is in the “grip” of markets run by “petro-states” and home-sourced energy could help “reassert” control.
Separately, he also said it is the “right thing” for the UK to keep oil and gas fields that are already licensed operating, but that “for the future” there will be a shift away from fossil fuels.
Fear
Asked on BBC Breakfast about rising bills and the Bank of England’s judgments on Thursday, Mr Miliband said: “What we are seeing in the global fossil fuel markets is prices up 60% compared to a year ago. That’s because of geopolitical events in part.
“This is our whole point. I fear that bills will keep rising – and […] this is our whole point – which is the only way to bring bills down, the only way to get control back, is to have clean, home-grown power that we control.
“Because, at the moment, we’re in the grip of markets that we don’t control, run by petro-states and dictators, and that is what is happening.
“So, global markets are seeing fossil fuel prices rise and that is having an impact on British consumers.”
He added: “The only way we reassert that control is by having this clean, home-grown power.”
Thursday’s monetary policy report suggested inflation could peak at 3.75% late this summer as energy price rises, higher water bills and a rise in bus fares contribute to an increase in the cost of living.
On Thursday, Prime Minister Sir Keir Starmer said he would not “pre-empt” a decision on the Rosebank oil field, after a judge upheld a legal challenge by environmental campaigners against the decision to grant consent.
Mr Miliband – in charge of the Government’s policy on energy security and net zero – also declined to get into specifics, but said that “individual projects” will be assessed “on the basis of the objective criteria we have”.
Previous comments
While in opposition, Mr Miliband labelled the Conservatives’ plans on energy and net zero – which included the potential licensing of Rosebank – as “a colossal waste of taxpayers’ money” and “climate vandalism”.
Speaking to Times Radio on Friday morning, he was asked about his previous comments and what is happening with the Rosebank project north-west of Shetland.
He told the station that how projects are assessed previously did not take scope of “the effects of burning oil and gas”.
“We’re currently consulting on how we do that,” he said.
“Once that consultation is completed, we will then assess individual projects on the basis of the objective criteria we have. I can’t, as Secretary of State, I’m afraid, get into the details of individual projects that might come before me, but that’s the approach we’ll take.”
Mr Miliband went on: “We said we will keep existing oil and gas fields that are already licensed […] continue to operate for their lifetime. That’s the right thing to do.
“For the future, the answer for Britain is not going to be fossil fuels.”
Support our Nation today
For the price of a cup of coffee a month you can help us create an independent, not-for-profit, national news service for the people of Wales, by the people of Wales.
Yes he is correct, but too many NImbys in Wales and thr rest of the UK.
How many windmills does it take to keep Musk and The Perm poisoning our society…
Miliband is a delusional idiot, and there’s no grown-up in the room to point it out. There’ll be no ‘transition’ to renewables anytime soon as anyone with a grasp of reality will tell you. This muppet will quietly be got rid of as his loopy notions collide, one-by-one, with the real world.
The man has millibandwidth in his dopey head. The main reason why prices keep escalating is that his government just gives carte blanche to the energy companies to gouge prices. It’s called collusion. Can’t be got rid of soon enough.
…and when he goes, take careful note of the job he moves on to.
Labour Junior Health minister just sacked for saying that I hope a pensioner that didn’t vote Labour dies.
Hasn’t Ed Milliwatt realised that electricity prices are artificially high to pay the strike prices guaranteed to renewable electricity suppliers? And that climate levies are added to electricity bills in order to subsidise renewable projects? And that gas prices are much higher than they should be because we are importing huge quantities of LNG instead of allowing production to increase in the North Sea?
The guy is an idiot.