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1486763

	registered interest
	date	05/07/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Renewable Energy: Finance
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what plans they have to update the investment allowance to support lower-carbon technologies.
	tabling member printed	Lord Taylor of Warwick
	uin	HL1513
	answer	answer is ministerial correction date of answer 19/07/2022 answer text <p>The Energy Profit’s Levy investment allowance will be calculated in the same way as the investment allowance for the existing Supplementary Charge. However, unlike the Supplementary Charge, it will be available to companies at the point of investment. This makes it both more immediate and more generous.</p><p> </p><p>Since the Levy is targeted at the extraordinary profits from oil and gas upstream activities, it makes sense that any relief for investment must also be related to oil and gas upstream activities. Such spending can be used to decarbonise oil and gas production, for example, through electrification. Therefore, any capital expenditure on electrification, as long as it relates to specific oil activities within the ringfence, will qualify for the allowance.</p> answering member printed Baroness Penn question first answered 19/07/2022 11:57:45 answering member 4726 label Biography information for Baroness Penn
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1671713

	registered interest
	date	21/11/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Renewable Energy: Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make it his policy to use revenue generated by new North Sea oil and gas licensing to fund green energy initiatives.
	tabling member constituency	Birmingham, Hall Green
	tabling member printed	Tahir Ali
	uin	2943
	answer	answer is ministerial correction date of answer 29/11/2023 answer text <p>The Government is of the view that spending and taxation decisions should be made separately to avoid limiting the ability to manage the public finances flexibly.</p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 29/11/2023 15:04:40 answering member 4850 label Biography information for Gareth Davies
	tabling member	4747 label Biography information for Tahir Ali

1463729

	registered interest
	date	17/05/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Renewable Energy: Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what fiscal steps he is taking to help increase the development of renewable energy.
	tabling member constituency	Rother Valley
	tabling member printed	Alexander Stafford
	uin	3791
	answer	answer is ministerial correction date of answer 23/05/2022 answer text Renewable energy has a central role in the Government’s decarbonisation and levelling-up ambitions. The Government recognises the economic benefits it can derive from renewable energy and is committed to developing these. The Government has taken a number of fiscal steps to support the deployment of renewable energy, including:<p> </p><p>We have moved to annual Contract for Difference auctions, bringing forward the next round to March 2023. This will help to encourage low-carbon generation and provide greater confidence to investors and supply chain companies.</p><p> </p><p>We are investing £160 million in offshore wind ports and the supply chain through the Offshore Wind Manufacturing and Investment Scheme (OWMIS) and have announced up to another £160 million to support development of the floating supply chain. We also recently announced £31 million of UK government funding, to be matched by industry, for research and development in this area.</p><p> </p><p>We have cut VAT rates on solar panels, and solar panel &amp; storage packages, down to 0% (from 5% and 20% respectively) to encourage installation.</p> answering member constituency Faversham and Mid Kent answering member printed Helen Whately question first answered 23/05/2022 08:48:12 answering member 4527 label Biography information for Helen Whately
	tabling member	4866 label Biography information for Alexander Stafford

1258460

	registered interest
	date	04/12/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Renewable Energy: Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to his Department's policy paper, National Infrastructure Strategy, published on 25 November 2020, when he plans to consult on the introduction of more stringent supply chain plan requirements in the Contract for Difference process.
	tabling member constituency	Gateshead
	tabling member printed	Ian Mearns
	uin	125225
	answer	answer is ministerial correction date of answer 09/12/2020 answer text <p>The Department for Business, Energy and Industrial Strategy (BEIS) published a consultation on the introduction of more stringent supply chain plan requirements, including a consequence for the non-delivery of Supply Chain Plan commitments, on 24 November. This consultation will close on 18 January 2021.</p><p> </p><p>BEIS intend to consult separately on the proposed Supply Chain Plan Questionnaire in early 2021.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 09/12/2020 10:49:37 answering member 3991 label Biography information for Jesse Norman
	tabling member	4000 label Biography information for Ian Mearns

1127720

	registered interest
	date	21/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Renewable Energy: Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	What recent assessment he has made of trends in the level of public funding for renewable energy since 2010.
	tabling member constituency	Sefton Central
	tabling member printed	Bill Esterson
	uin	911018
	answer	answer is ministerial correction date of answer 21/05/2019 answer text <p>The Government is committed to investing in renewable energy and our support has enabled the UK to become a world leader in clean growth with the fastest emissions reduction on a per person basis than any other G7 nation.</p><p> </p><p>We will spend £4.5 billion between 2016 and 2021 to support the development of renewable and low carbon heating through the Renewable Heat Incentive.</p><p> </p><p>The Government is also encouraging private sector innovation and £92 billion of private funding has been invested in clean energy in the UK since 2010.</p> answering member constituency Newark answering member printed Robert Jenrick question first answered 21/05/2019 13:43:49 answering member 4320 label Biography information for Robert Jenrick
	tabling member	4061 label Biography information for Bill Esterson

431661

	registered interest
	date	23/11/2015
	answering body	Department for Energy and Climate Change
	answering dept id	63
	answering dept short name	Energy and Climate Change
	answering dept sort name	Energy and Climate Change
	hansard heading	Renewable Energy: Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Energy and Climate Change, what the implications for her policies on support for community-based renewable generation projects are of the proposed changes to the feed-in tariff scheme and HM Treasury's decision to remove such projects from tax relief.
	tabling member constituency	Stockton North
	tabling member printed	Alex Cunningham
	uin	17392
	answer	answer is ministerial correction date of answer 30/11/2015 answer text <p>Part of the purpose of the feed-in tariff (FIT) review consultation was to gather views on the broader economic impact of the proposed changes. We also sought views on whether the scheme should be focussed towards specific groups or sectors which might, for example, include households or communities. We had a strong response from community energy groups via the consultation and workshops.</p><p>The actual impact on the community sector will depend on the options taken forward after all responses to the consultation have been considered. We are currently analysing feedback submitted during the consultation and intend to publish a Government response as soon as possible.</p><p>The purpose of the tax-advantaged venture capital schemes is to provide funding to smaller higher-risk companies that would otherwise struggle to access finance to develop and grow. To ensure that the schemes are well targeted and deliver value for money, the government announced at the Autumn Statement the exclusion of all remaining energy generation activities from the schemes. This follows the exclusion of certain types of energy generation in 2012, 2014 and 2015, including most recently the announcement that the provision of reserve energy generating capacity and the generation of renewable energy benefiting from other government support by community energy organisations would be excluded from the schemes with effect from 30<sup>th</sup> November 2015, as well as from Social Investment Tax Relief when that scheme is expanded. These changes help to ensure that higher risk investments are not crowded out by lower risk investments.</p><br /><p>We will continue to work with the community energy sector over the coming months to develop a joint approach that addresses the priorities of the sector and satisfies our overarching objective of cost-effective emissions reductions.</p><br /> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 30/11/2015 14:52:46 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	4122 label Biography information for Alex Cunningham

1691339

	registered interest
	date	23/02/2024
	answering body	Department for Energy Security and Net Zero
	answering dept id	215
	answering dept short name	Energy Security and Net Zero
	answering dept sort name	Energy Security and Net Zero
	hansard heading	Renewable Energy: Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Energy Security and Net Zero, how much funding has been allocated for the Contracts for Difference : Allocation Round 6.
	tabling member constituency	East Londonderry
	tabling member printed	Mr Gregory Campbell
	uin	15414
	answer	answer is ministerial correction date of answer 28/02/2024 answer text <p>The Budget Notice for Allocation Round 6 of the Contracts for Difference Scheme is due to be published by 13 March 2024. The Government seeks to set the budget at a level that supports competition and delivers on the deployment and value for money objectives of the scheme.</p> answering member constituency West Aberdeenshire and Kincardine answering member printed Andrew Bowie question first answered 28/02/2024 17:32:48 answering member 4601 label Biography information for Andrew Bowie
	tabling member	1409 label Biography information for Mr Gregory Campbell

1713821

	registered interest
	date	25/04/2024
	answering body	Department for Energy Security and Net Zero
	answering dept id	215
	answering dept short name	Energy Security and Net Zero
	answering dept sort name	Energy Security and Net Zero
	hansard heading	Renewable Energy: Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Energy Security and Net Zero, what assessment her Department has made of the potential merits of increasing the budget for Pot 1 of the Contracts for Difference AR6 to ensure that Government targets for established technologies are met.
	tabling member constituency	Angus
	tabling member printed	Dave Doogan
	uin	23796
	answer	answer is ministerial correction date of answer 30/04/2024 answer text <p>National Grid ESO (NG ESO) is currently assessing applications to Allocation Round 6 of the Contracts for Difference scheme. Later this year, the Secretary of State will have an opportunity to review the budget following receipt of the formal valuation of applications from NG ESO.</p> answering member constituency West Aberdeenshire and Kincardine answering member printed Andrew Bowie question first answered 30/04/2024 16:04:22 answering member 4601 label Biography information for Andrew Bowie
	tabling member	4736 label Biography information for Dave Doogan

1713822

	registered interest
	date	25/04/2024
	answering body	Department for Energy Security and Net Zero
	answering dept id	215
	answering dept short name	Energy Security and Net Zero
	answering dept sort name	Energy Security and Net Zero
	hansard heading	Renewable Energy: Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Energy Security and Net Zero, whether her Department has made an assessment of the potential impact of lowering the market reference prices for the Contracts for Difference AR6 on the (a) budget that can be allocated to projects during the auction, (b) number of projects that can be awarded in that round and (c) total capacity that will be secured through AR6.
	tabling member constituency	Angus
	tabling member printed	Dave Doogan
	uin	23797
	answer	answer is ministerial correction date of answer 30/04/2024 answer text <p>The reference prices we use for the Contracts for Difference budget are an output from the Department’s main power model and are characteristic of decarbonisation pathways that are net-zero consistent.</p><p> </p><p>Budgets are set based on a wide range of factors such as an assessment of the pipeline of projects that could participate in the auction, rather than being a pre-determined monetary constraint. If reference prices were higher or lower, the budget would change accordingly, and approximately the same capacity would likely be successful in the auction.</p> answering member constituency West Aberdeenshire and Kincardine answering member printed Andrew Bowie question first answered 30/04/2024 16:05:35 answering member 4601 label Biography information for Andrew Bowie
	tabling member	4736 label Biography information for Dave Doogan

1714026

	registered interest
	date	26/04/2024
	answering body	Department for Energy Security and Net Zero
	answering dept id	215
	answering dept short name	Energy Security and Net Zero
	answering dept sort name	Energy Security and Net Zero
	hansard heading	Renewable Energy: Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Energy Security and Net Zero, with reference to Appendix 2 of the Contracts for Difference AR6 Allocation Framework 2024, Appendix 2 of the Contracts for Difference AR5 Allocation Framework 2023 and Appendix 2 of the Contracts for Difference AR4 Allocation Framework 2021, what methodology her Department used to calculate the market reference prices for the years 2026-27 to 2030-31; and for what reason it has been set lower than previous Contracts for Difference Allocation Rounds.
	tabling member constituency	Angus
	tabling member printed	Dave Doogan
	uin	23952
	answer	answer is ministerial correction date of answer 01/05/2024 answer text <p>As set out in the accompanying note to the Budget Notice[1], the reference prices we use for the CfD budget are an output from the Department’s main power model and are characteristic of decarbonisation pathways that are net-zero consistent. Wholesale electricity prices are driven by many factors including electricity demand profiles, the plants that generate to meet this demand, as well as fuel price assumptions and carbon price assumptions. Changes in reference prices between rounds depend on the assumptions used in power modelling and the delivery years for each allocation round.</p><p> </p><p>[1] The accompanying note to the Budget Notice can be found here:</p><p><a href="https://eur02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.gov.uk%2Fgovernment%2Fpublications%2Fcontracts-for-difference-cfd-allocation-round-6-statutory-notices&amp;data=05%7C02%7CParliamentary.PQ%40energysecurity.gov.uk%7C9ba5023041b04ec6760908dc692d94b9%7Ccbac700502c143ebb497e6492d1b2dd8%7C0%7C0%7C638500891684410764%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=WunRH0cV5boaGDFHmPM1SJU%2BmksN%2FI1bxKETyzzMG1A%3D&amp;reserved=0" target="_blank">https://www.gov.uk/government/publications/contracts-for-difference-cfd-allocation-round-6-statutory-notices</a></p><p> </p> answering member constituency West Aberdeenshire and Kincardine answering member printed Andrew Bowie question first answered 01/05/2024 05:23:52 answering member 4601 label Biography information for Andrew Bowie
	tabling member	4736 label Biography information for Dave Doogan