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CBI’s response to Government's Energy Security Strategy.

Rain Newton-Smith, CBI Chief Economist, yesterday said:

"This Strategy sets an ambitious bar for a more resilient, low carbon energy system for the future. Bold words must now be matched by bold actions from the Government. The proof will be in the Strategy’s delivery, in partnership between business and Government. Business believes greater energy independence must go hand-in-hand with delivering a net-zero, higher growth economy.

"Increasing our domestic generating capacity is an essential part of dealing with the current energy crisis. Big bets on nuclear will provide clean and stable power for consumers and businesses. This scale of ambition should be replicated for other renewable technologies like onshore wind. Commitment to planning reforms and rapid approvals is what will really make the difference now.

"While it’s welcome this Strategy addresses some long-standing challenges, companies are continuing to really struggle with increased wholesale energy costs right now. The Government’s next step should be to provide immediate cashflow support for firms through the Recovery Loan Scheme – and move to cut bills for Energy Intensive Industries to maintain competitiveness.

"Kickstarting an ambitious national programme for household energy efficiency upgrades should follow this Strategy too – making people’s bills more affordable and cutting carbon across the country."