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CBI comments on Energy Bill progress
Commenting on the Energy Bill entering the House of Commons’ report stage and third reading, CBI Chief Policy Director, Katja Hall, said:
“The Energy Bill remains the best instrument for Government to give investors the certainty they need to plough billions of pounds into keeping UK lights on, through an affordable low-carbon economy.
“We can’t afford further delays, so it is essential there’s political agreement and the Bill is on the statute book this year.
“The Government will need to make sure that households and businesses most vulnerable to increased energy prices are adequately protected.”
On the debate over a decarbonisation target, she added:
“The CBI supports the Climate Change Act and the carbon targets and budgets contained in it, but the Bill must deliver the necessary pace of decarbonisation if they are to be achieved.
“It is clear that investment decisions will stand or fall on the details of the Contracts for Difference, the capacity mechanism, and the levy control framework – not on a carbon intensity target.
“Debates about the effect of including a target in the Bill should not be allowed to prevent critical policy details being tied down. Vital investment decisions are hanging in the balance.”
