This Government is taking long-term decisions today to tackle a legacy of under-investment, build a system of energy infrastructure fit for the 21st century and to create the right environment for business to invest in clean, affordable and secure energy. But we don’t apologise for doing this at the same time as working to keep bills as low as possible and making sure that the people that foot the bill, the hardworking families and businesses of Britain, get a good deal.
We know that old and dirty coal, and some ageing nuclear power plants will be closing over the next few years, and that’s precisely why we’ve put in place a long-term plan to ensure we have secure, affordable and clean energy supplies that can be relied on now and in the future.
We are the first country to propose an end date to using unabated coal and we will do so in a way that maintains energy security, which comes first. We are clear that a range of energy sources such as nuclear, offshore wind and shale gas all have roles to play in the low-carbon energy mix, powering our country and safeguarding our future economic security.
Amber Rudd set out the Government’s stall on what course energy policy will take over this Parliament in a speech late last year.
The top 10 things the government is doing to secure investment in clean secure energy:
- Committed to the first new nuclear plant for a generation at Hinkley Point C. It will power 6 million homes for 60 years and also provide 25,000 jobs giving the UK economy a huge boost.
- Boosting innovation funding to over £500m, including £250m for nuclear innovation and Small Modular Reactors.
- Confirmed we could support up to 10GW of new offshore wind projects in the 2020s, with a further three auctions in this Parliament if the Government’s conditions on cost reduction are met.
- Set out world leading plans to close all unabated coal-fired power stations by 2025 if we’re confident that the shift to new gas can be achieved within the necessary timescales.
- Allocated £295 million to invest in energy efficiency measures in schools, hospitals and other local public services.
- Introduced a new energy efficiency supplier obligation for 5 years from April 2017 set at £640 million a year – helping more than 1 million homes cut carbon emissions and keep their bills low.
- Committed to more than double the support we give to households and businesses to decarbonise their heating supply in this Parliament (from £430 million to £1.15 billion).
- Allocated over £300 million to deliver up to 200 heat networks in communities, leveraging up to £2 billion in private investment.
- Announced a 50% increase in the UK climate finance commitment to a total of £5.8 billion over the next five years to help the poorest countries cut carbon emissions and adapt to climate change.
- Signed the Paris agreement, which sends a clear signal to business to invest in the low carbon transition.