Lords energy inquiry: Treasury minister John Glen MP to give evidence

This evidence session, which is open to the public, will be held in Committee Room 4A of the House of Lords and streamed live on Parliament TV.

Questions the committee is likely to cover in this session include:

• How will the UK bridge the investment gap of around £50 billion a year by 2030 that has estimated will be needed to meet net zero targets?
• Does the Treasury want to see financial institutions lending to support oil and gas exploration and new hydrocarbon infrastructure?
• Why does the Energy Profits Levy not include tax relief for investment in renewable energy, but only oil and gas?
• What criteria is being used to judge whether the wider electricity generation sector is making “extraordinary profits” and what potential “next steps” is the Government considering in response?
• To what extent should the Infrastructure Bank take risks in supporting nascent technologies?
• The committee heard that data needed to support trustworthy and transparent climate disclosures “does not exist” or is too qualitative. What could be done to improve the available data?
• The Treasury has said that it plans to “unleash investment in UK infrastructure” through reform of Solvency II – how certain is it that unlocked capital would be used productively?
• Several witnesses have told the committee that the best way to foster and shepherd investment in support of the transition is via a carbon tax. How do you see carbon taxes evolving throughout the transition?

More on this inquiry

The committee’s work can be followed on its website and via Twitter.

Read the transcript of the committee’s previous oral evidence session on 24 May 2022.