Industrial strategy: government to focus on minimising business energy costs
The government is to investigate how to reduce the cost of decarbonisation in the power and industrial sectors, it announced yesterday.
The review will consider how best to support improvements in energy efficiency, whether existing measures to support further cost reductions in offshore wind are viable, and how the government and regulator Ofgem can ensure markets and networks are as efficient as possible in a low-carbon system.
Plans for the review were included in the green paper on a new industrial strategy, published yesterday by the Department for Business, Energy and Industrial Strategy (BEIS). The strategy comprises ten ‘pillars’, one of which is to deliver affordable energy and clean growth.
The green paper states that the concept of an energy ‘trilemma’ – cutting carbon emissions, energy affordability and securing industrial opportunities of energy innovation – needs updating.
Acting on climate change is a ‘settled policy position’, the continuation of which will be set out in the forthcoming emissions reduction plan, it says. The ...