While support for new North Sea oil and gas has been welcomed, the energy sector has called for a drop in windfall taxes and greater incentives for low-carbon investment ahead of the Chancellor’s impending budget.
Energy sector representatives have written to the government warning that a focus on price alone in procuring new renewables capacity risks a “race to the bottom”.
The UK risks falling behind in the race to become a global renewable energy leader without rule changes, two of the country's energy trade bodies have warned.
A group of trade associations from across the energy sector have written to the Chancellor urging him to prioritise incentives for green growth as part of the Spring Budget.
UK energy bosses warned that £100 billion of planned sector investment risked being undermined by a suite of new government policies which seek to cap both consumer bills and generator earnings.
The trade association responsible for representing the energy sector, Energy UK, today announced their new chair as former Labour MP, Lord John Hutton.