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My Lords, before the noble Lord sits down, he referred to the Global Warming Policy Foundation, of which I am chairman. The noble Lord—apparently wildly but, I am sure, sincerely—claimed that every figure printed by the foundation was wrong. I congratulate him on having read every one of the millions...
My Lords, before the noble Lord sits down, he referred to the Global Warming Policy Foundation, of which I am chairman. The noble Lord—apparently wildly but, I am sure, sincerely—claimed that every figure printed by the foundation was wrong. I congratulate him on having read every one of the millions...
My Lords, I declare my interests as in the register. This massive proposal, which is imaginative and exciting in many ways, is being rushed through Parliament, partly because the departing Prime Minister has a desire for a legacy and partly because of the claimed emergency over climate change or global...
My Lords, I declare my interests as in the register. This massive proposal, which is imaginative and exciting in many ways, is being rushed through Parliament, partly because the departing Prime Minister has a desire for a legacy and partly because of the claimed emergency over climate change or global...
To ask Her Majesty's Government what plans they have to lay a fully-costed impact assessment before both Houses of Parliament before making any adjustment to the UK’s greenhouse gas emissions reduction target.
To ask Her Majesty's Government what plans they have to lay a fully-costed impact assessment before both Houses of Parliament before making any adjustment to the UK’s greenhouse gas emissions reduction target.
The Committee on Climate Change’s (CCC) detailed and analytically rigorous report has shown that this goal is now feasible, deliverable, and can be met within the same cost envelope (an annual resource cost equivalent to 1-2% of GDP in 2050) as was estimated for the 80% target when it was set in 2008. As the CCC identify, there are a wide range of benefits which could partly or fully offset these costs.
While the transition to a net zero economy undoubtedly requires new investment, it also opens up opportunities for the UK to build on its areas of strength, including in offshore wind manufacture, provision of green finance, and development of electric vehicles.
Policies to support delivery of a net zero target will be subject to impact assessments in the usual way.
To ask the Leader of the House when she will table the committee stage of the Trade Bill in House of Lords Business.
To ask the Leader of the House when she will table the committee stage of the Trade Bill in House of Lords Business.
My Lords, I commend the noble Lord, Lord Lee, for his persistent, impressive work in defending investors’ interests. I declare a historic interest as a one-time partner in a City of London stockbroking firm. Further to the Minister’s reply, will he and the Government reconsider whether they should amend the special administration rules to stop administrators taking their inflated costs—and they often are seriously inflated—partly from the portfolio holdings of innocent private investors? Moreover, is he aware that a further big problem for these investors is that, on liquidation, their portfolios are frozen, often for months at a time? Is he also aware that there are now electronic trading systems that technically allow the transfer of stocks from portfolios in as little as two to three working days, but that they are voluntary? Will the Government consider making it mandatory for all security firms to belong to one of those systems so that the investors enmeshed in these unpleasant liquidations can have rapid access to their personal assets?
My Lords, I commend the noble Lord, Lord Lee, for his persistent, impressive work in defending investors’ interests. I declare a historic interest as a one-time partner in a City of London stockbroking firm. Further to the Minister’s reply, will he and the Government reconsider whether they should amend the special administration rules to stop administrators taking their inflated costs—and they often are seriously inflated—partly from the portfolio holdings of innocent private investors? Moreover, is he aware that a further big problem for these investors is that, on liquidation, their portfolios are frozen, often for months at a time? Is he also aware that there are now electronic trading systems that technically allow the transfer of stocks from portfolios in as little as two to three working days, but that they are voluntary? Will the Government consider making it mandatory for all security firms to belong to one of those systems so that the investors enmeshed in these unpleasant liquidations can have rapid access to their personal assets?
This particular point was looked at by Peter Bloxham, as I have just mentioned. He found that the firm’s assets and the client funds are separated, and felt that a case had not been made as to why the creditors of the firm estate should effectively be liable for the costs of the investors’ pool when the administrator is acting to recover their investment. As I said, we keep these matters under constant review, as does the Financial Conduct Authority.
My Lords, I apologise for having arrived unavoidably about two minutes late, so I missed the profound opening statement from the noble Baroness.
We are discussing two very important subjects here: climate change and global health. But after listening to what has already been said, and having read much elsewhere, it...
My Lords, I apologise for having arrived unavoidably about two minutes late, so I missed the profound opening statement from the noble Baroness.
We are discussing two very important subjects here: climate change and global health. But after listening to what has already been said, and having read much elsewhere, it...
As I read it, the temperature has risen by one degree. Did I say 1%? I should have said one degree.
As I read it, the temperature has risen by one degree. Did I say 1%? I should have said one degree.
I accept that rebuke from the noble Lord. I trust that he will never in his life say 1% instead of one degree. It is 150 years since the cool cycle turned down, so it is not surprising if the climate turns up and gets a little warmer.
In the 21st...
I accept that rebuke from the noble Lord. I trust that he will never in his life say 1% instead of one degree. It is 150 years since the cool cycle turned down, so it is not surprising if the climate turns up and gets a little warmer.
In the 21st...
I was aware of that study but we were discussing health today, and I was producing numbers on that.
In the United Kingdom, the forecast warming to 2050—if it continues at the present rate; if it increased it would be more—is forecast to cause an extra 2,000 heat-related deaths. However, we...
I was aware of that study but we were discussing health today, and I was producing numbers on that.
In the United Kingdom, the forecast warming to 2050—if it continues at the present rate; if it increased it would be more—is forecast to cause an extra 2,000 heat-related deaths. However, we...
To ask Her Majesty's Government, further to the Written Answers by Lord Prior of Brampton on 26 October (HL2180–HL2182), in relation to electricity costs, what has been the percentage increase in Transmission Network Use of System charges between 2007 and 2017.
To ask Her Majesty's Government, further to the Written Answers by Lord Prior of Brampton on 26 October (HL2180–HL2182), in relation to electricity costs, what has been the percentage increase in Transmission Network Use of System charges between 2007 and 2017.
Network charging is a matter for Ofgem as the independent energy regulator, and Government does not hold the requested data. Ofgem has published an ‘Infographic: The Energy Network’ which shows that network costs fell by 45% following privatisation. There was then a planned increase in network costs from around 2006 to around 2015 to pay for network upgrades, with network costs remaining broadly flat since then. Network costs are still around 17% below levels at the time of privatisation due to improved efficiency, and have remained at around 25% of the average dual fuel bill for some time.
To ask Her Majesty's Government, further to the Written Answers by Lord Prior of Brampton on 26 October (HL2180–HL2182), in relation to electricity costs, what has been the percentage increase in Distribution Services Use of System charges between 2007 and 2017.
To ask Her Majesty's Government, further to the Written Answers by Lord Prior of Brampton on 26 October (HL2180–HL2182), in relation to electricity costs, what has been the percentage increase in Distribution Services Use of System charges between 2007 and 2017.
Network charging is a matter for Ofgem as the independent energy regulator, and Government does not hold the requested data. Ofgem has published an ‘Infographic: The Energy Network’ which shows that network costs fell by 45% following privatisation. There was then a planned increase in network costs from around 2006 to around 2015 to pay for network upgrades, with network costs remaining broadly flat since then. Network costs are still around 17% below levels at the time of privatisation due to improved efficiency, and have remained at around 25% of the average dual fuel bill for some time.
To ask Her Majesty's Government, further to the Written Answers by Lord Prior of Brampton on 26 October (HL2180–HL2182), in relation to electricity costs, what has been the percentage increase in Balancing Services Use of System charges between 2007 and 2017.
To ask Her Majesty's Government, further to the Written Answers by Lord Prior of Brampton on 26 October (HL2180–HL2182), in relation to electricity costs, what has been the percentage increase in Balancing Services Use of System charges between 2007 and 2017.
Network charging is a matter for Ofgem as the independent energy regulator, and Government does not hold the requested data. Ofgem has published an ‘Infographic: The Energy Network’ which shows that network costs fell by 45% following privatisation. There was then a planned increase in network costs from around 2006 to around 2015 to pay for network upgrades, with network costs remaining broadly flat since then. Network costs are still around 17% below levels at the time of privatisation due to improved efficiency, and have remained at around 25% of the average dual fuel bill for some time.
To ask Her Majesty's Government what assessment they have made of the findings by Dieter Helm, in his report Cost of Energy Review, commissioned by the Department for Business, Energy and Industrial Strategy, that (1) the legacy costs from the Renewables Obligation Certificates, the feed-in tariffs, and low carbon contracts...
To ask Her Majesty's Government what assessment they have made of the findings by Dieter Helm, in his report Cost of Energy Review, commissioned by the Department for Business, Energy and Industrial Strategy, that (1) the legacy costs from the Renewables Obligation Certificates, the feed-in tariffs, and low carbon contracts...
Professor Helm conducted an independent review. The Government will now take time to assess its findings carefully. We have launched a Call for Evidence to gather views from the energy industry, academics, businesses, consumer groups and other stakeholders.
To ask Her Majesty's Government, in commissioning future energy projects, what account they intend to take of the full system and intermittency cost of competing technologies, and whether they intend to implement an Equivalent Firm Power capacity auction.
To ask Her Majesty's Government, in commissioning future energy projects, what account they intend to take of the full system and intermittency cost of competing technologies, and whether they intend to implement an Equivalent Firm Power capacity auction.
Professor Helm conducted an independent review which, among other things, made recommendations regarding full system and intermittency costs, and a system of Equivalent Firm Power capacity auctions. The government will now take time to assess its findings carefully. We have launched a Call for Evidence to gather views from the energy industry, academics, businesses, consumer groups and other stakeholders.
To ask Her Majesty's Government, in relation to electricity costs, what they estimate the percentage increase will be for Balancing Services Use of System charges between (1) now and 2020, and (2) now and 2030; and what proportion of these increases will be attributable to efforts to connect renewable energy...
To ask Her Majesty's Government, in relation to electricity costs, what they estimate the percentage increase will be for Balancing Services Use of System charges between (1) now and 2020, and (2) now and 2030; and what proportion of these increases will be attributable to efforts to connect renewable energy...
Transmission, distribution and balancing charges are set by network companies in line with the charging methodologies approved by Ofgem, as the independent regulator.
Network companies also produce some future estimates of these charges. These include National Grid’s forecasts of Transmission Network Use of System charges for 2018/19 to 2021/22 (available at: http://www2.nationalgrid.com/UK/Industry-information/System-charges/Electricity-transmission/Approval-conditions/Condition-5/) and Balancing Services Use of System charges to 2018/19 (available at: http://www2.nationalgrid.com/UK/Industry-information/Electricity-transmission-operational-data/Report-explorer/Services-Reports/). These forecasts are not broken down to show renewable energy sources.
To ask Her Majesty's Government, in relation to electricity costs, what they estimate the percentage increase will be for Distribution Services Use of System charges between (1) now and 2020, and (2) now and 2030; and what proportion of these increases will be attributable to efforts to connect renewable energy sources to...
To ask Her Majesty's Government, in relation to electricity costs, what they estimate the percentage increase will be for Distribution Services Use of System charges between (1) now and 2020, and (2) now and 2030; and what proportion of these increases will be attributable to efforts to connect renewable energy sources to...
Transmission, distribution and balancing charges are set by network companies in line with the charging methodologies approved by Ofgem, as the independent regulator.
Network companies also produce some future estimates of these charges. These include National Grid’s forecasts of Transmission Network Use of System charges for 2018/19 to 2021/22 (available at: http://www2.nationalgrid.com/UK/Industry-information/System-charges/Electricity-transmission/Approval-conditions/Condition-5/) and Balancing Services Use of System charges to 2018/19 (available at: http://www2.nationalgrid.com/UK/Industry-information/Electricity-transmission-operational-data/Report-explorer/Services-Reports/). These forecasts are not broken down to show renewable energy sources.
To ask Her Majesty's Government, in relation to electricity costs, what they estimate the percentage increase will be for Transmission Network Use of System charges between (1) now and 2020, and (2) now and 2030; and what proportion of these increases will be attributable to efforts to connect renewable energy sources to...
To ask Her Majesty's Government, in relation to electricity costs, what they estimate the percentage increase will be for Transmission Network Use of System charges between (1) now and 2020, and (2) now and 2030; and what proportion of these increases will be attributable to efforts to connect renewable energy sources to...
Transmission, distribution and balancing charges are set by network companies in line with the charging methodologies approved by Ofgem, as the independent regulator.
Network companies also produce some future estimates of these charges. These include National Grid’s forecasts of Transmission Network Use of System charges for 2018/19 to 2021/22 (available at: http://www2.nationalgrid.com/UK/Industry-information/System-charges/Electricity-transmission/Approval-conditions/Condition-5/) and Balancing Services Use of System charges to 2018/19 (available at: http://www2.nationalgrid.com/UK/Industry-information/Electricity-transmission-operational-data/Report-explorer/Services-Reports/). These forecasts are not broken down to show renewable energy sources.
To ask Her Majesty’s Government, further to the Written Answer by Lord Prior of Brampton on 14 March (HL5780), whether their statement that the increase in global average surface temperatures is not consistent with natural internal variability is supported by evidence that is not based upon computer simulation of the...
To ask Her Majesty’s Government, further to the Written Answer by Lord Prior of Brampton on 14 March (HL5780), whether their statement that the increase in global average surface temperatures is not consistent with natural internal variability is supported by evidence that is not based upon computer simulation of the...
Our statement reflects the conclusion of the Intergovernmental Panel on Climate Change Fifth Assessment Report that it is virtually certain (>99% probability) that natural internal variability alone cannot account for the observed increase in global surface temperatures. This statement is based on computer model simulations, which capture both the observed magnitude and spatial patterns of warming only when both human and natural forcings are included. Further, reconstructions of past climate variability from records such as ice cores also reveal that recent temperature changes are clearly distinct from natural variability. These records show that temperatures over the last 50 years in the Northern Hemisphere (where records of past climate are most comprehensive) were unusually high relative to the last 1000 years.
My Lords, I should declare my interests as in the register, particularly as secretary of the racing and blood stock all-party group and of the Betting and Gaming All-Party Group. I am also chairman of the Starting Price Regulatory Commission. In 2005, I chaired on behalf of the racing industry...
My Lords, I should declare my interests as in the register, particularly as secretary of the racing and blood stock all-party group and of the Betting and Gaming All-Party Group. I am also chairman of the Starting Price Regulatory Commission. In 2005, I chaired on behalf of the racing industry...
To ask Her Majesty’s Government, further to the Written Answer by Lord Prior of Brampton on 1 February (HL4937), what evidence they have for their statement that the observed evidence of global average surface temperature is not consistent with natural internal variability.
To ask Her Majesty’s Government, further to the Written Answer by Lord Prior of Brampton on 1 February (HL4937), what evidence they have for their statement that the observed evidence of global average surface temperature is not consistent with natural internal variability.
Evidence that observed global average surface temperatures are not consistent with natural internal variability in the climate system can be found in Working Group I of the IPCC’s 5th Assessment Report (AR5 WGI).
Observations show that global average surface temperature has risen by between 0.6 to 0.7°C since 1951. AR5 WGI concluded that it was virtually certain (>99% probability) that natural internal variability alone could not account for this observed increase in temperature. Amongst other reasons, it showed that the spatial pattern of observed warming differed from that associated with internal variability. AR5 WGI stated that more than half of the observed increase in global average surface temperature from 1951 to 2010 was extremely likely (> 95% probability) due to the anthropogenic increase in atmospheric greenhouse gas concentrations and other anthropogenic forcings together.