Autumn statement 2016: Chancellor delays decisions on post-2020 energy policy
Industry and campaign groups have slammed the autumn statement for lacking detail on energy policy after 2020.
In the March budget, former chancellor George Osborne had pledged to set out the long-term direction for rates of the carbon price support (CPS) and the carbon price floor (CPF), both of which are designed to boost investment in renewable energy.
His replacement, Philip Hammond, yesterday said he would freeze the CPS at £18 tonne/CO2, adding only that the Treasury would continue to consider the appropriate mechanism for setting the carbon price in the 2020s. He also delayed a decision until the March Budget on the fate of the levy control framework, which caps future spending on low-carbon energy.
Dustin Benton, acting deputy director of the Green Alliance, said the postponement was disappointing given that renewable energy infrastructure could deliver an additional £22bn in private sector investment before 2020.
Dr Jonathan Marshall, energy analyst at ...