Energy UK responds to the chancellor’s plans to announce a clean energy reset
“High energy bills in the UK have been driven by international gas prices, so boosting our own sources of clean generation is a must to shield us from future price shocks. The funding announced will not only support the UK reach its CCUS and nuclear ambitions, it unlocks thousands of jobs and will help position the UK as a world-leader in these low carbon technologies, which will also support the substantial roll out of cheap renewables needed to bring down bills in the long-term.
“However, the introduction of the Electricity Generator Levy has added uncertainty to future investment in low carbon infrastructure. Unless the Government takes urgent action, the UK risks losing its position as an attractive place to invest on the global market and is facing a potential £62bn shortfall over the next decade.
“We also hope the Chancellor will use the upcoming Spring Statement to postpone the planned rise in the Energy Price Guarantee, and extend the Energy Bill Relief Scheme into summer, to support UK homes and businesses until energy prices return to lower levels.”
Read more about the risk to UK investment in Energy UK’s latest report.
