Energy: Prices
The question
To ask the Secretary of State for Energy Security and Net Zero, what assessment he has made of the implications of his policy on natural gas production between October 2025 and February 2026 on energy prices.
Answered by Michael Shanks
The 2025 North Sea Future Plan set out details of how the government will deliver on its commitment not to issue further oil and gas licences to explore new fields, whilst managing existing fields for their lifespan.
The North Sea is a naturally declining basin, and the price of oil and gas is determined by international markets. The best way to improve our resilience in the face of global instability is to increase our domestic supply of renewable energy.
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