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Energy UK responds to ‘Decarbonisation of the Power Sector’ report

Responding to the Business, Energy and Industrial Strategy Committee’s report on ‘Decarbonisation of the power sector’, Adam Berman, Deputy Director of Advocacy at Energy UK, said:

“This report echoes concerns raised by ourselves and many across the energy industry in recent months. If the Government doesn’t quickly acknowledge and respond to the challenges that have grown for low-carbon developers then it is putting its own decarbonisation targets in jeopardy – as well as the UK’s energy security.

“For example, the rising costs faced by renewables projects have not been reflected in the next Contracts for Difference auction which risks us falling further and further behind in delivering the amount of clean domestic power we urgently need to ensure our energy security, cut bills, and reduce emissions. 

“In addition to that, we have a windfall tax that gives favourable treatment to oil and gas companies over renewables developers at the very time when there is increasing competition for green investment from the United States and Europe. The real and present fear is that if we don’t move quickly to improve the investment climate, that money will find a home elsewhere.”