The Conservative government’s overhaul of renewable energy subsidies has spooked investors and could add as much as £120 extra to average household bills, a select committee report has found. The damning report concludes the Energy and Climate Change select committee’s examination of investor confidence which started last September as a result of a string of cuts to renewable subsidies, many of them related to solar. Its findings also appear to directly contradict the Department of Energy and Climate Change’s (DECC) much-vaunted aim of protecting bill payers from increased costs.
Solar Portal 3rd March 2016 read more »
A growing number of investor groups, politicians and climate change organisations have added further weight to a report out today criticising the government’s changes to energy policy since May 2015. The Energy and Climate Change (ECC) select committee has concluded its inquiry into investor confidence in the UK energy sector with the publication of a report claiming the recent overhaul of UK policy has impacted investor confidence and risks adding £120 to consumer bills. Octopus Investments, which took part in the ECC committee’s inquiry, Chief executive of the company Simon Rogerson said: “Constant changes to policy has made the UK a less attractive place to invest in energy infrastructure. We need to get a more transparent and stable policy environment that gives investors long-term clarity.
Solar Portal 3rd March 2016 read more »
Andrew Simms: Energy UK, the trade association representing the big six energy suppliers, has in welcome – if belated – fashion come out in favour of a large-scale shift to low-carbon, renewable energy. Their desire to not be left behind might seem rather academic, as they already have been – both by a warming climate and countries whose embrace of renewable energy is far advanced. Their report on pathways to 2030 is littered with the buzzwords for a more sustainable energy system. It looks at everything from more decentralised energy generation to a “whole systems” approach, energy efficiency and even “reducing energy demand”. Contrary to previous official expectations of rising demand, it expects demand to remain roughly stable, but describes an otherwise substantially changing energy market overseen by uncertain government policies that threaten the investment needed for transformation. Denmark, as a small nation, provides in microcosm a classic example. An incentive scheme brought communities and investors together creating both grassroots support and a secure investment environment. In two decades from 1983, 3GW of wind energy capacity were installed. By 2014 wind power was providng 39% of Danish electricity.
Guardian 4th March 2016 read more »