Energy Bill opportunities
The Northern TUC have published a useful briefing on how the Energy Bill is an opportunity to tackle a range of energy issues.
They argue that the UK government’s approach has been inconsistent. This includes the decision to defer a £1bn investment in Carbon Capture and Storage and the Solar energy debacle over the feed-in tariffs and subsidy. The latter has led to a drop in consumer confidence and the industry forced to lay off thousands of workers.
Growth in offshore wind energy is much more sluggish than was being predicted due to uncertainty around electricity pricing, subsidy and Electricity Market Reform. As they put it, “Quite simply, major primary investors are not able to calculate the return on investment with any clarity, severely retarding the opportunities for an eager and capable supply chain”.
One reason for inconsistent policy approaches is because the Chancellor favours gas-fired power stations and is keen to further reduce subsidies to the renewables sector, while the Liberal Democrats are keen to push the wind, wave and solar energy generation.
Getting the Energy Bill wrong will lose the opportunity, across the UK, to create good quality jobs and tackle climate change.
- Posted in: Energy Bill