{"id":502620,"date":"2026-03-30T00:42:07","date_gmt":"2026-03-30T00:42:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/502620\/"},"modified":"2026-03-30T00:42:07","modified_gmt":"2026-03-30T00:42:07","slug":"rachel-reeves-to-tell-g7-accelerating-shift-to-clean-energy-is-best-defence-against-energy-price-shocks-renewable-energy","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/502620\/","title":{"rendered":"Rachel Reeves to tell G7 accelerating shift to clean energy is best defence against energy price shocks | Renewable energy"},"content":{"rendered":"

Rachel Reeves will warn G7 nations they must move faster on clean energy to insulate economies against global price shocks<\/a> from oil and gas as she and the energy secretary Ed Miliband meet G7 finance and energy ministers on Monday.<\/p>\n

Keir Starmer will also gather major energy industry and insurance figures to thrash out what emergency measures might be needed to contain the continuing crisis from the blockade of the strait of Hormuz.<\/p>\n

But in an explicit rebuke of the Conservatives<\/a> and Reform, who have urged her to end the ban on new oil and gas licenses, Reeves will tell her fellow ministers that long-term energy security from renewables and nuclear is the only way to prevent future crises.<\/p>\n

\u201cAs we move faster on renewables and nuclear, our partners in the G7<\/a> must do the same \u2013 because staying stuck on the rollercoaster of global oil and gas prices will help nobody,\u201d Reeves told the Guardian ahead of the meeting.<\/p>\n

\u201cThat transition is strongest when countries act together. By working across the G7 we can accelerate investment and build momentum. Energy<\/a> bills are coming down for families this week thanks to the actions of this Labour government \u2013 action that was opposed by the Tories and Reform.\u201d<\/p>\n

Treasury sources said Reeves would speak about accelerating investment in renewables and nuclear to transition away from gas power, as well as the UK\u2019s intention to implement the Fingleton review<\/a> this year to speed up the delivery of new nuclear.<\/p>\n

They said Reeves would argue that the G7 nations should not \u201cshift pressure on to partners or weaken collective resilience\u201d \u2013 a veiled warning about easing sanctions on Russian energy or on new trade barriers.<\/p>\n

Reeves said she rejected calls from the Conservatives to issue new oil and gas licences in the North Sea<\/a> because they would not insulate the UK from further energy shocks or bring down UK consumers\u2019 bills.<\/p>\n

\u201cKemi Badenoch has admitted the central foundation of her energy plan won\u2019t bring bills down. The only lasting route to lower bills is clean, homegrown power that cuts our exposure to the volatility of global gas markets,\u201d she said. \u201cWhile the Tories and Reform chase headlines, this Labour government will remain focused on easing the cost of living for families across Britain.\u201d<\/p>\n

Starmer will convene senior leaders from Shell, BP, Centrica and Equinor in No 10 on Monday, as well as insurance giants Lloyd\u2019s of London and shipping firms Maersk and CMA and banks including HSBC and Goldman Sachs.<\/p>\n

No 10 said it was intended to be a constructive meeting about the perilous state of the strait. It is likely to inform short and long-term contingency planning amid threats from Iran that it intends to assert sovereignty over the strait of Hormuz, including potentially charging vessels for access once the chokepoint is eventually reopened.<\/p>\n

Badenoch will ramp up calls for the government to do more to tackle a hit to energy bills, including removing VAT from bills alongside more drilling in the North Sea. She will visit Aberdeen and an oil rig in the North Sea. She will demand the scrapping of GB Energy, heat pump subsidies and abolishing the renewable obligation subsidies currently being funded through general taxation.<\/p>\n

\u201cBy drilling in the North Sea and scrapping Ed Miliband\u2019s crazy green taxes, our Cheap Power Plan would reduce bills by \u00a3200 for everyone,\u201d she will say. \u201cOnly the Conservatives have the plans and the team to deliver cheap energy, a stronger economy and a stronger country.\u201d<\/p>\n

Badenoch conceded on the BBC\u2019s Laura Kuenssberg programme on Monday that drilling further would not reduce British consumers\u2019 energy bills. \u201cThe drilling isn\u2019t going to go directly on to people\u2019s bills, no,\u201d she said. \u201cBut if we can make sure that we stop importing from Norway \u2013 40% of our imports are coming from Norway, who are drilling in the same basin. Why are we importing gas that is being drilled in that basin, but we won\u2019t drill our own? This is a wider thing. It goes beyond bills.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Rachel Reeves will warn G7 nations they must move faster on clean energy to insulate economies against global…\n","protected":false},"author":2,"featured_media":502621,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[59,57,58,50,56,54,55],"class_list":{"0":"post-502620","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-united-kingdom","8":"tag-gb","9":"tag-great-britain","10":"tag-greatbritain","11":"tag-news","12":"tag-uk","13":"tag-united-kingdom","14":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/502620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=502620"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/502620\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/502621"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=502620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=502620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=502620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}