Daily News
CBI comments on OFGEM report on UK energy security
The CBI today commented on Project Discovery, Ofgem’s report into the UK’s energy security. Sarah Green, Regional Director, CBI North East, said:
“This report serves as a stark warning that existing policy will not deliver the balanced energy mix needed to provide security for the UK, help cut carbon emissions, and maintain competitive prices.
“Britain needs new nuclear plants, clean coal, gas generation, wind and other renewable sources to be developed quickly, as well as more gas storage facilities. Having a balanced range of energy sources will help avoid over-reliance on too few sources, and help ensure that energy prices are affordable for consumers and businesses alike.
“Achieving all of this is going to require massive private-sector investment. In light of this, future policy must take into account the benefits of a competitive market and also the need to give some certainty to investors who will be required to pay for new energy sources."