The cross-party Business, Energy and Industrial Strategy Select Committee has warned that the UK Government’s plan is set to fail to generate enough electricity from fossil fuel free sources by 2035, risking the country’s security of supply and its ability to meet its net zero target. Its report on Decarbonising the UK Power sector says that ‘the absence of strategic leadership from Ministers and the lack of a coherent, overarching plan to deliver national targets undermines our ability to reduce our dependence on imported expensive fossil fuels for electricity’. And it warns that funding for renewables was under threat as the UK’s attractiveness for investment in low-carbon technologies has ‘deteriorated’. The report suggests that investor confidence has been hit by policy instability, including windfall tax exemptions that favoured fossil fuels; failure to tackle rising development costs; 15-year delays to connect to the grid, and a cumbersome planning re...
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