WiredGov Newswire (news from other organisations)
Printable version E-mail this to a friend

HARD WORK STILL NEEDED TO SECURE £200 BILLION INVESTMENT IN ENERGY INFRASTRUCTURE – CBI

The CBI has commented on the Government’s Electricity Market Reform White Paper published yesterday (Tuesday).

John Cridland, CBI Director-General, said:

“This White Paper is an important step in the right direction, but the hardest work is still to come. There is much to do if we are to secure the £200 billion of essential investment needed in our energy infrastructure, including a mix of nuclear, clean coal, gas and renewables. The big decisions remain to be taken.

“We have long called for our electricity markets to be reformed. The Government’s package contains some good measures, including its decision on feed-in tariffs. But these need to be made to work.

“More detail is needed on tariffs, and the case must be made for a capacity mechanism. We need a clear decision on both by the end of the year to avoid damaging investor confidence.

“Everyone wants to make our energy infrastructure more secure and sustainable for the future, but businesses cannot be expected to write a blank cheque. The Government still needs to spell out what it thinks the final bill for all of its electricity market reforms will be.

“Some energy intensive industries are already on a knife edge, and without help to shield them from new measures like the carbon floor price, they could struggle to stay in the UK.” 


Notes to Editors:

The CBI is the UK's leading business organisation, speaking for some 240,000 businesses that together employ around a third of the private sector workforce. With offices across the UK as well as representation in Brussels, Washington, Beijing and Delhi, the CBI communicates the British business voice around the world.

Media Contact:

CBI Press Office on 020 7395 8239 or out of hours pager on 07623 977 854. Follow the CBI on Twitter at: www.cbi.org.uk/twitter

 

 

PDNS: Mandatory Active Cyber Defence for Public Sector Networks. Latest Guide