Labour accuses Government of £1.7bn fuel storage ‘mistake’
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he closure and subsequent re-opening of the UK’s largest fuel storage web site value the nation almost £1.7 billion over two years, Labour has mentioned.
The occasion has blamed the Conservatives for what it has labelled a pricey mistake, as Labour accused ministers of ignoring warnings in regards to the winding down of the Rough storage facility underneath the North Sea.
The storage web site had been mothballed from 2017 however was partially reopened final 12 months, when it was capable of retailer round 30 billion cubic ft (bcf) of fuel.
Centrica final month elevated capability on the web site, the UK’s largest facility, as a way to present the agency with an even bigger security cushion for subsequent Winter.
Labour mentioned that with extra storage, the UK might have purchased fuel extra cheaply now and saved it to be used over the winter.
But it mentioned that the shortage of capability would now value the nation pricey.
Yet one other failure on vitality safety hasn’t simply left households paying extra, it’s left us uncovered and reliant on others
Labour mentioned that the UK’s storage capability is 2% of annual demand, a fraction of the equal figures in Germany, Italy, France and the Netherlands.
“Despite warnings this Tory government shut down gas storage and once again left working people paying the price for their sticking plaster approach,” shadow chancellor Rachel Reeves mentioned.
“Yet another failure on energy security hasn’t just left families paying more, it’s left us exposed and reliant on others.
“Instead of investing in homegrown energy to lower bills, create jobs and strengthen our energy security, they are happy to keep laying the costs on working family.”
Labour mentioned that the UK was paying £685 million over the chances for winter fuel this 12 months, after paying out £967 million additional final 12 months as a result of lack of fuel storage amenities.
The Opposition mentioned that that the Government’s mistake was piling stress on already hard-pressed households.
“Built on the rock of economic responsibility, Labour will drive forward the industries of the future – working in partnership with businesses and workers – to sort out these Tory energy failures, get bills down and restore some economic security,” Ms Reeves mentioned.
We are reinforcing our vitality safety by securing virtually £200 billion of funding into low-carbon vitality tasks since 2010, backing new nuclear and floating offshore wind, and investing in low-carbon options
Energy Security Secretary Grant Shapps hit again at Labour.
“We will take no lessons on energy security from the party that wants to ban new oil and gas licences in the North Sea, risking hundreds of thousands of British jobs, handing control of our energy to countries like Russia, and hiking up prices.
“Meanwhile, we are reinforcing our energy security by securing almost £200 billion of investment into low-carbon energy projects since 2010, backing new nuclear and floating offshore wind, and investing in low-carbon alternatives – helping to grow our economy.”