Responding to the Conservative Party’s pledge to scrap the Climate Change Act, Energy UK’s chief executive, Dhara Vyas said:
“The Climate Change Act is the legal bedrock that underpins billions of pounds of international investment in the UK. The energy sector supports 1 in every 25 jobs in the UK and last year alone almost £24 billion was invested in the sector. Treating the Climate Change Act as a political football is a surefire way to scare off investors.
“The energy sector has been an engine of growth for the UK, and safely delivers reliable power, 24 hours a day, across the country. But this relies on a shared political space in which we can agree on the end goal of a dependable, cheap, and increasingly clean energy system, whilst recognising there are different ways to achieve and fairly pay for this.
“The Climate Change Act has had an overwhelmingly positive impact on the UK and on business confidence. It has given businesses the confidence to invest in jobs, skills, and innovation that benefit people in areas like the Humber, Teesside, and across the whole country. Pulling out the rug from under these critical investments will do nothing to lower energy bills. The only route to long term energy security, and to stabilising energy prices for homes and businesses, is through a pragmatic transition to clean energy.”