The government has unveiled its legislative blueprint for Great British Energy, targeting a net zero grid by 2030.
His Majesty The King presented the government’s legislative agenda during the State Opening of Parliament, highlighting the government’s focus on “rebuilding Britain” through 40 bills and draft bills.
The proposed legislation aims to boost economic growth by improving transport infrastructure, creating jobs and speeding up housing and public project development.
- Important message
Responding to the King’s Speech, Energy UK’s Chief Executive, Emma Pinchbeck said: “The sense of purpose and ambitious action articulated by the government sends an important message to investors at a time of increased international competition for funding and with the UK in danger of falling to the bottom of the G7 for the growth of clean energy generation by 2030.
“The job now is to back this up with decisive and swift action to unleash all this potential and remove the barriers that are hindering our progress.”
- Energy bills remain high
Mike Thornton, Chief Executive of Energy Saving Trust, welcomed the commitment to Great British Energy, stating, “It’s welcome to hear the commitment to a Bill to establish Great British Energy to support the UK’s transition to clean energy.”
Mr Thornton emphasised the need for quick action to reduce reliance on fossil fuels and address the climate emergency: “The UK is over-reliant on fossil fuels, energy bills remain high and people need help to engage with net zero.
“Addressing the climate emergency by reducing carbon will result in healthier homes, cleaner air and greener, cheaper energy for all.”
He also highlighted the importance of community involvement and the expected Warm Homes Plan to provide energy saving advice and finance.
- Finer details needed
Trevor Hutchings, Chief Executive Officer of the REA (Association for Renewable Energy and Clean Technology), said: “We await to see the finer details behind these proposals, as well as some areas that the King’s Speech did not cover.
“For example, the growing need to address electric vehicle charging infrastructure, and measures to promote the circular bioeconomy.”
- The role of Great British Energy
Ana Musat, RenewableUK’s Executive Director of Policy, appreciated the measures to accelerate the energy transition and economic growth, particularly the Planning and Infrastructure Bill.
Ms Musat remarked, “Setting up Great British Energy to mobilise investment into renewables and support engagement with local communities will also play an important role in helping us meet our deployment targets.”
- Energy independence
Alasdair Johnstone from the Energy and Climate Intelligence Unit pointed to public expectations for energy independence and green economic renewal.
He noted, “The public were more convinced by Labour’s offer on energy independence, building out more renewables rather than relying on declining domestic oil and gas production.”
- Landmark decision
Yselkla Farmer, Chief Executive Officer of BEAMA, described the establishment of Great British Energy as “a landmark decision” and called for immediate action to support the low carbon infrastructure and supply chain.
- Wholesale rethink of critical national infrastructure
James Court, Chief Executive of EVA England, emphasised the need for planning reforms to ensure the national charging infrastructure meets the demand for electric vehicles.
Mr Court highlighted the urgency of this priority to achieve net zero targets: “Today’s extensive announcements on planning reform are encouraging in recognising the need for a wholesale rethink of how our critical national infrastructure can be installed quickly, reliably and consistently.
“This is all the more essential for electric vehicles and our urgent priority to make sure the national charging infrastructure suitably meets a growing demand, and that we hit our net zero targets.”
- Driving investment into priority areas
Dr Rhian-Mari Thomas, Chief Executive Officer of the Green Finance Institute, stressed the importance of the National Wealth Fund in encouraging private investment.
Dr Thomas said, “Implementing the recommendations made by the Taskforce will drive investment into priority areas, accelerate the decarbonisation of our economy and position the UK for increased international investment.”
- Risks on the horizon
Tom Clougherty from the Institute of Economic Affairs cautioned that new regulations could impede pro-growth measures.
He warned, “Pro-growth measures risk being held back by new red tape and risky ‘mission-led’ central planning.”
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