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Earlier this month, the Department for Business, Energy and Industrial Strategy (BEIS) published a consultation on proposals for a major reboot of the Contracts for Difference (CfD) scheme. This is the government’s mechanism to support low-carbon generation.
New ways of calculating the main energy transmission and distribution charges will start to impact electricity prices from April 2021 – and for most business consumers, this will mean higher costs.
While the Chancellor promised “considerable steps” to incentivise cleaner forms of transport, fuel duty will remain frozen for another year – and there are plans to invest £27bn in new roads.
As a sector, energy has been at the very forefront of the UK’s world-leading progress in tackling climate change. The country’s carbon emissions are at the lowest level since the 1890s, which is largely down to us reaching the point where low-carbon sources supply more than half of our energy generation.
Rescheduled on the back of the well-documented suspension of the Capacity Market back in 2018, this latest auction provides the UK with >45GW reserve capacity which can be called upon in the event of system stress.
Published earlier this month, Ofgem’s Decarbonisation Programme Action Plan sets out a new vision for how it will govern and regulate the energy industry in order to support the government’s net zero target.