My Lords, I thank both noble Lords for their comments, and I join them in expressing my sympathies for those affected. I am glad to hear that power has been fully restored across the region.
As noble Lords have suggested, the Spanish Government are undertaking a review. We do not yet know the outcome, and I suggest that it is best to await the review before we can look properly at any potential lesson or impact on our own system. Clearly, it is entirely understandable that noble Lords should raise the question of the resilience of our own grid. The Secretary of State has been in regular contact over the past week with the National Energy System Operator, which has provided reassurance that there is no increase in risk to our energy supplies from that incident.
The intervention of the noble Lord, Lord Offord, did not come as a surprise to me. We still believe that the best way to secure energy independence is through clean power. The Office for Budget Responsibility has assessed that responding to future gas price shocks could be twice as expensive as the direct public investment needed to reach net zero.
I hope I can provide some reassurance on the issue of inertia. NESO continuously monitors the condition of the electricity system to ensure that there are sufficient inertia reserves to manage large losses. System inertia is the kinetic energy stored in the spinning parts of the generator connected to the electricity system. If there is a sudden change in system frequency, these parts will carry on spinning and slow down that change. System inertia behaves a bit like shock absorbers in a car’s suspension, which dampen the effect of a sudden bump in the road and keep the car stable and moving forward.
In the context of renewable energies, NESO has introduced new technologies such as flywheels to increase inertia and establish new commercial mechanisms to procure these on the GP system as more non-synchronous generation is built and makes up a large proportion of the energy mix. It has also introduced innovative new approaches to manage system stability and the system is designed, built and operated in a way that can cope with the loss of key circuits or systems, minimising the risk of significant customer impact.