Tories announce plans for ‘biggest overhaul of energy market since the 1980s’
The Conservatives have today (March 19) published details of an energy policy paper creating what they claim is the biggest overhaul of the market since the 1980s.
The report ‘Rebuilding Security: Conservative energy policy for an uncertain world’ was unveiled by party leader David Cameron.
While the industry watchers have largely approved of the report plans, reforms to the Climate Change Levy are questioned.
“We are setting out a Conservative programme for the long-overdue reform of British energy policy,” Mr Cameron said: “Together with the actions we will take to mobilise the investment required to enact those reforms and our strategy for minimising the cost to consumers.”
The policy paper sets out 12 key actions that a Conservative government would take immediately.
Including; create a capacity guarantee in electricity and a security guarantee in gas supply, to ensure that the lights stay on and our homes stay warm
And taking decisive action to promote nuclear and renewable power, through streamlined planning, a floor price for carbon and improved infrastructure
Director of the Combined Heat and Power Association, Graham Meeks, welcomed the announcement.
He said: “The Conservative’s specific commitment to use a feed-in tariff to promote the capture of waste heat could have a transformational effect for CHP and is very welcome.
“There are some areas where caution will be needed in taking forward this agenda, and we will be playing close attention to the proposals to reform the Climate Change Levy.”
Director of Policy and Research for Renewable Energy Foundation, Dr John Constable, said: “Subsidies in the energy sector have distorted investment patterns and left the UK with a dysfunctional and unbalanced electricity sector, as well as imposing disproportionate and rising costs on the consumer.
“The fact that the Conservatives have grasped this bull by the horns without losing sight of the need for clean, secure energy, is to be welcomed.”
The full documented can be downloaded from the Conservatives website.