Confidence is the key to Energy UK £150bn spending plans

By TERRY MURDEN
Published on 19/09/2012 00:00

Angela Knight, chief executive of Energy UK, will tell a conference today that the industry needs confidence in new legislative and regulatory changes if it is to press ahead with £150 billion of crucial investment.

Speaking at Water UK’s Investing in Infrastructure 2012 conference, she will say: “Investing in infrastructure is important for the economy.

“In energy, the scale and challenge of investment is truly big. We need over £150bn of investment across the next decade if we are going to keep the lights on.”

She will emphasise the need for a diverse range of electricity sources and for smaller projects such as energy from waste and biomass.

“The role of gas and coal in the future may well also change with carbon capture and storage if and when the technology can be made cost effective,” she says.

“What is required to bring this investment about is for global investors to have confidence in the proposed new legislative and regulatory changes. We await an Energy Bill to provide the framework legislation and for the many current variables to be resolved pragmatically and coherently.

“If the UK is to achieve the three pronged objective of energy security, carbon reduction, and all at a cost that is affordable for consumers, holistic decision making is essential and the package of measures both government, regulator and Europe interactions and impacts must be fully understood.”

TERRY MURDEN