Views on the UK energy market and ways forward for the UK Government
On the 25th of October Prof. Helm published a review into the UK energy market.
The critical review looked at the different aspects of the energy market, i.e. the complexity of the market set-up, the variety in energy pricing, decarbonisation goals and ways to reach them and energy regulation and taxation, to name a few.
A main aspect throughout the report is the general complexity of the energy market. In short, the report addresses both the complexity, and the need for competitiveness in the energy market. By only a small number of big energy suppliers setting the prices unnecessarily high, it can be a struggle for the lay person to find a good energy deal, therefore calling for a reduction in regulatory and governmental involvement would boost competitiveness.
In addition, decarbonisation played a big role in the report, citing rather extreme measures as a fix for the current state of the energy industry. These include: new regulation and measures like a fixed carbon pricing and a removal of the UK from the binds of the EU renewables directive, which only made superficial reductions in carbon levels. Therefore, regarding the reduction of CO2, the UK could potentially become a forerunner as Brexit automatically removes us from this directive, but would require dramatic governmental action.
We believe that the real progress of decarbonisation will not be down to government regulation but to the actions of corporations and organisations. Have a look at our website, or give us a call to discuss how our goals can help your organisations sustainability.