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Finely chop 1 onion. Heat 2 tbsp olive oil and a knob of butter in a pan, add the onions and fry until lightly browned (about 7 minutes).
Add 6 chopped rashers streaky bacon and fry for a further 5 minutes, until it starts to crisp.
Add 300g risotto rice and 1l hot vegetable stock, and bring to the boil. Stir well, then reduce the heat and cook, covered, for 15-20 minutes until the rice is almost tender.
Stir in 100g frozen peas, add a little salt and pepper and cook for a further 3 minutes, until the peas are cooked.
Serve sprinkled with freshly grated parmesan and freshly ground black pepper.