Our top priority is to make sure that families and businesses have secure energy supplies, and therefore to ensure that National Grid has the right tools in place to manage the system. Our energy security has been strengthened by reforms of the capacity market, including holding an auction this coming winter for delivery in 2017-18.
The capacity market is the most cost-effective way to make sure we have the infrastructure to cope with unexpected demand peaks. In May, we committed to buying more capacity and buying it sooner. New build capacity is eligible for 15-year agreements, providing a secure revenue stream and thereby encouraging new gas infrastructure.
Yesterday I launched a new all-party parliamentary group for marine energy, to promote the fantastic potential from our tumultuous seas of energy, whether tidal, stream or wave. Does my hon. Friend agree that when the Hendry review comes out in November this year, the Government should respond as fast and as positively as possible to make us a world leader in what could be one of the great sources of energy in the world?
We certainly recognise the potential that tidal lagoons could bring to the UK, which is why we have commissioned this independent review. We are absolutely committed to providing clean, affordable and secure energy that we can rely on now and in the future. This review will report in the autumn and will help us to determine what role tidal lagoons could play in that.