A broad coalition of charities, environmental and anti-poverty groups, as well as trade associations representing the breadth of the UK energy industry, have called on the Government to empower Ofgem with a net zero mandate, otherwise progress towards meeting the UK’s net zero goals could stall.
With a mandate, the letter identified how the energy regulator can remove barriers to investment in the low-cost, low-carbon energy system the energy sector and environmental groups are all working towards. The Energy Security Bill is the prime opportunity to deliver this change. Alongside calls for a net zero duty, the letter urges Government to publish the long-awaited Strategic Policy Statement to Ofgem so the energy regulator can properly incorporate net zero into its decision making.
Lawrence Slade, Chief Executive, Energy Networks Association, which represents the UK’s energy network operators, said: “The foundations of our future energy system are already being built and the regulatory decisions that determine our ability to meet the UK’s decarbonisation targets are being made by Ofgem today.
“Empowering Ofgem with a net zero mandate will enable strategic investment, removing a clear barrier to investment in the low-cost, low-carbon energy system we are all working towards.”
Read the full letter here: https://energynetworks-newsroom.prgloo.com/resources/4e7za-06vss-k92q1-ynhm4-cm28j