EEF comments on report into energy sector investor confidence

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Commenting on the publication of the Energy and Climate Change Select Committee’s report into energy sector investor confidence, Claire Jakobsson, Head of Energy and Environment Policy at EEF, said: “Whilst the findings of this investigation will come as no surprise they should serve as a clarion call for the Government to establish a credible and coherent energy strategy during the course of this year. Last year’s “energy reset” speech from the Secretary of State, was an attempt to provide a sense of direction, but as yet it has not been backed up by policy decisions on the ground. 


“Above all, the Government needs to provide certainty over Levy Control Framework spending in the 2020s - how much there will be, what technologies will have access to it and on what terms. This week’s announced changes to the Capacity Market should help deliver investment in gas generation, but the long-term viability of these plants is heavily reliant on a CCS strategy from Government – and right now this is in complete disarray.


“The energy sector’s low carbon transition is one of massive upheaval. It is Government’s job to smooth this transition as much as possible – at present it is falling somewhat short of this task.”


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