The Energy Research Partnership gave evidence to the House of Lords Select Committee on Economic Affairs, looking at the economics of UK energy policy.
The submission highlights the key economic challenges for the energy market which the Government must address over the next decade, considers the emerging technologies which could materially change the energy market over the next decade and beyond – citing CCS as the most important, and clarifies the roles of both government and the private sector in delivering the energy transition.
Andy Boston, author of the submission, writes: ‘The role of government is to lead the debate and produce, in consultation with the public, a high level strategic narrative that sets the direction of travel. Engagement with the public and stakeholders should be embedded within decision making from the outset with the aim of restoring trust.
‘The role of the private sector is to deliver and operate the required infrastructure. There are also areas where public and private need to work in partnership, especially along the innovation chain where government can help fund innovation and is often best placed to de-risk difficult steps on the way to deployment.
The submission also considers retail pricing, and alternate ways for pricing energy which might reduce the burden of high energy bills on less well off consumers, and highlights the vital importance of reducing energy consumption within the UK housing stock.
You can read the full submission here.