REA Reaction to Bipartisan Decarbonisation Amendment to Energy Bill

Target would send “a clear signal that the UK means business on decarbonisation”

Responding to the announcement that Conservative MP Tim Yeo and Labour MP Barry Gardiner have tabled an amendment to the Energy Bill for a 2030 decarbonisation target to be decided by April next year, REA Chief Executive Gaynor Hartnell said:

“This would send a clear signal that the UK means business when it comes to decarbonisation. We have a legally binding carbon reduction target for 2050 and the sooner we have clarity on the path for achieving it the better. It will boost the confidence of those who need to invest the billions of pounds required to deliver a sustainable future.

“As well the broad, all-encompassing trajectory to decarbonisation, we have a more specific ask. It is essential that independent generators are able to sell the electricity they generate under the new Contracts for Difference. A Green Power Auction Market has been proposed which would fulfil this need, and deliver the stability and low cost of capital Government envisages for these generators. We urge the adoption of GPAM at the report stage of the Energy Bill.”

The Renewable Energy Association represents renewable energy producers and promotes the use of all forms of renewable energy in the UK across power, heat, transport and renewable gas. It is the largest renewable trade association in the UK, with over 1,000 members, ranging from major multinationals to sole traders. For more information, see: www.r-e-a.net

Source: REA

For more information on: REA