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Energy UK responds to the Government’s new Energy Prices Bill

Responding to the Government’s new Energy Prices Bill, Energy UK’s Director of Advocacy, Dhara Vyas, said:

“We welcome the Energy Prices Bill as it will legislate the much-needed support that the Government has announced to help alleviate some of the immediate financial pressures that millions of households and businesses are already facing as a result of rising energy costs. It’s also important to look at long term solutions to ensure our energy security and that consumers can benefit from cheap, clean home-grown energy. However, we must be sure that the proposed mechanism does not risk the very investment the UK needs to ensure long term, sustainable economic growth. We look forward to continuing to work with Government to ensure that any new mechanism is introduced in a way that encourages investment in low carbon generation, rather than deterring it. This, alongside improved energy efficiency, will reduce our reliance on volatile gas prices in the long-term, as well as boost our economy.”