Executive Summary
Energy UK does not agree with the currently proposed version of the financial
instrument. If introduced, the instrument would need to be heavily modified to ensure
Great Britain (GB) remains a competitive place to invest in clean energy. The
instrument should take effect two years after achieving Gate 2, provisions must be
made to ensure securities can be recouped by developers if they fall out of the queue
through no fault of their own, a ‘ratchet mechanism’ should be considered to limit
burdensome securities for developers, and exemptions must be made for small
community projects, NHS decarbonisation projects and first-of-a-kind projects
essential to the Clean Power 2030 (CP30) plan.
If the financial instrument is not pursued, the focus must be on ensuring the connection
milestones and Gate 2 mechanism are fit for purpose to ensure serious projects,
aligned to the Government’s clean power plans are advanced.
If you would like to discuss this response in further detail with Energy UK and its
members, we would welcome further engagement.
Tobias Burke,
Policy Manager
Tobias.burke@energy-uk.org.uk
Downloads
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Energy UK response to Connections Reform Financial Instrument Proposal – 22 November 2024
Type: PDF (149 KB)