Energy policy will probably be the last thing on Boris Johnson’s mind if he becomes the next UK prime minister. Navigating a successful Brexit will be his top priority and this means devising an economic plan for future generations. A new energy policy should be at the heart of his vision for Britain outside Europe, but it is going to be expensive. One of his first decisions after July 23 could be to accept the recommendations of a long-awaited government white paper aimed at overhauling the energy industry. The document – likely to outline root-and-branch reforms to new nuclear funding and flesh out green energy policies empowering consumers – was due to be published ahead of the summer recess of Parliament. Expectations for what will actually be contained in the white paper when it is eventually published are high. Carolyn Fairbairn, director general of the Confederation of British Industry, wrote to Business Secretary Greg Clark last month urging him to ensure it meets the long-term needs of cleaning up the environment, while keeping the lights on. It is unclear if both objectives are even possible. “A major challenge that we must address is the need to secure long-term investor confidence… continue reading
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Source: CTRM Center