Established in 2017, the National Infrastructure Commission (NIC) provides the Government with impartial, expert advice on major long-term infrastructure challenges. This means assessing how to make the UK’s infrastructure ‘fit for the future’ within a tight fiscal envelope of 1.2% of GDP. In October, the NIC’s published its second National Infrastructure Assessment. This set out ‘probably the most comprehensive assessment yet’ of the infrastructure costs of reaching Net Zero with a bold package of recommendations across power, networks and heat.
Whilst there will be costs to replacing our outdated energy infrastructure, the Commission is clear that there would be a high cost to inaction, but that well-judged investment would lead to permanently lower costs for households (with a reduction in energy bills by the 2030s). As the report summarises: ‘We stand at a pivotal moment in time, with the opportunity to make a major difference to this country’s future. But we need to get on with it’.
We are delighted to welcome a guest speaker from the NIC to provide a summary of their work here. This will be followed by a discussion from our expert panel as we discuss the energy sector’s response to the NIC’s recommendations.
You can read the NIC’s key recommendations on energy and Net Zero here.