Rachel Reeves to tell G7 accelerating shift to clean energy is best defence against energy price shocks

Starmer to convene major energy industry and insurance figures to draw up emergency plans amid continued blockade of strait of Hormuz Rachel Reeves will warn G7 nations they must move faster on clean energy to insulate economies against global price shocks from oil and gas as she and the energy secretary Ed Miliband meet G7 finance and energy ministers on Monday. 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. But in an explicit rebuke of the Conservatives 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. “As we move faster on renewables and nuclear, our partners in the G7 must do the same – because staying stuck on the rollercoaster of global oil and gas prices will help nobody,” Reeves told the Guardian ahead of the meeting. “That transition is strongest when countries act together. By working across the G7 we can accelerate investment and build momentum. Energy bil