Responding the King’s Speech, Energy UK’s chief executive Emma Pinchbeck said:
“It was good news for the industry to hear the speech highlighting the Government’s intention to attract record levels of investment in renewables and speed up grid connections. Both are essential to increasing our supply of clean, cheaper homegrown power in line with the Government’s ambitious targets and we now need further detail on how it plans to deliver these.
“While there has been much focus on new oil and gas licences – and while these will continue to play an important role during the energy transition – they will not lower customer bills or significantly improve the UK’s energy security. So the Government’s priority must be to reduce our dependence on gas and the exposure to volatile international energy markets that the King’s Speech referred to.
“The volatility of global gas markets has driven up bills, which will remain a struggle for millions of customers this winter, and it’s only by investing in clean technology, energy efficiency, and the infrastructure of a modern energy system that we can make a real and permanent difference to cutting the costs of energy for people and businesses and bolstering our energy security.
“The energy industry will continue to work with the Government and help deliver priorities on the clean energy transition and on grid infrastructure with the urgency they warrant. We hope that together with the forthcoming Autumn Statement, the Government will set out a bold and comprehensive plan to achieve our ambitions and boost our economy in the face of increasing global competition for investment in clean technology and jobs. We also continue to call for targeted support this winter for those customers in most need of help with their bills.”