Select committee: Economic Affairs Committee
Recommendation 4
1st Report - Investing in energy: price, security, and the transition to net zero (21 July 2022)
Published 21 Jul 2022
Paragraph 31
Economic Affairs Committee UK energy supply and investment All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗
Recommendation (the committee's words)
We recommend that the Government publishes an energy demand reduction strategy. To strengthen public confidence, the Government should work with the financial sector to provide financing options and increase incentives for investment in energy efficiency measures. In addition, the Government needs to set clear signals so supply capacity can be increased along with steps to support the development of resilient supply chains and workforce skills. It should have a clear, practical delivery plan which learns from the failings of previous initiatives. The strategy should be published as soon as possible.
From: Economic Affairs Committee, 1st Report - Investing in energy: price, security, and the transition to net zero (21 July 2022), paragraph 31, 21 July 2022
Government response
The government responded to the whole report on 11 October 2022.
Summary written by Accountability Index from the government's response. It is not the government's own words.The government's response sets out measures on energy bills, domestic supply and net zero, accepts or notes some recommendations in part, and says some matters are for regulators, companies or the Bank of England.
- On onshore wind, it "acknowledges" that more will be needed for net zero and energy security, and says it will "consult on how we do this later this year" for projects with strong local backing in England.
- On the Future System Operator, it concludes a public corporation is the most effective model, and says it "could be established by or in 2024", depending on factors including legislation and timelines.
- On nuclear life extensions, it says it "has no formal role in these decisions", which are for EDF and the Office for Nuclear Regulation.
- On stranded oil and gas assets, it "notes" the Committee's points but believes private companies "are better placed to make judgements on commercial investments".