Meeting of the Parliament 20 February 2025
It is central to the plan. If Douglas Lumsden wants a plan, he should back GB Energy. For goodness’ sake, we cannot, on the one hand, say that we need a plan and then oppose GB Energy. The Tories should not be ridiculous—seriously.
The reality is that we need a transition. We also need GB Energy, for two critical reasons. First, the transition has to happen at such a pace that, if there were no state intervention, it could not occur. Secondly, it will rely on innovation, technology and engineering that we do not yet have in place. Unless we derisk the process and the investment, the transition will not happen and we will squander the legacy of the North Sea. When people talk to industry representatives, one thing is abundantly clear: our North Sea legacy gives us the ability to do engineering work offshore, at sea, in the harshest of conditions, which we will need to do if we are to reap the benefits of the energy transition.