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Energy UK responds to the Autumn Statement

Responding to the Autumn Statement, Energy UK’s chief executive, Emma Pinchbeck said:

“Our industry has been urging the Government to do more to attract investment in clean energy and technologies in the face of growing international competition.

“Energy UK welcomes the permanent extension of full expensing, which we have been calling for along with the CBI and Make UK, and the introduction of an investment allowance in the Electricity Generation Levy, which addresses one of its major flaws. The £4.5 billion funding announced is also rightly targeted at strategic manufacturing sectors and green businesses.   

“Investment will also be boosted if we can tackle the biggest challenge facing the energy transition – upgrading our infrastructure by massively speeding up the planning process and the time it takes to connect energy projects and businesses to the grid. The Government’s focus on this issue of critical national importance is good news and we will study closely today’s response to the Winser Report on speeding up the connections process.

“Much of the Chancellor’s speech was centred on growth and as we’ve again stressed in recent months, unlocking investment in order to seize the opportunities offered by the move to a low carbon economy is the best way to boost growth, bolster energy security, cut bills, create jobs and raise prosperity right across the UK. Today’s measures are a step in the right direction but we need the Government to maintain this focus in its actions, policies and messaging. 

“It also remains a concern that with January’s price cap announced tomorrow, energy customers face bills similar to – or even higher than – last winter in the absence of Government support. Even at this late stage, we urge the Government to consider bringing in targeted support for those in most need in this winter and to get on with looking at how to make bills affordable for all customers over the longer term.”