Energy investment threatened by energy policy doubts
There are still a number of essential energy investments that have yet to be confirmed due to the uncertainty about the UK’s energy policies, a report has found. The Energy Institute has claimed that these delays could absolutely be due to the risks involved with investing in nuclear and renewable energy projects.
The Government has acknowledged these fears by promising they will reassure investors with new objectives and schedules in Autumn this year to encourage the development of clean energy to further enhance the industry and allow it to be secure and affordable for consumers.
The survey that raised these threats also showed that if the EU was to leave the European Union, this would have a detrimental effect on the renewable sector, climate change, air quality and the supply of energy. This indicates a huge lack of trust in the UK to continue its clean energy policies and as such the Government has announced that they will be ‘resetting’ energy policies in November this year, in which there are suggestions of plans to build new gas power stations, support low-carbon energy and encourage a flexible electricity grid. This, however, was attacked by critics for not diminishing the uncertainty that has been caused by the Referendum about the industry.
Low oil prices is also a factor that is disheartening investors to put money into energy efficiency. “Plainly, the government’s energy policy ‘reset’ has yet to reset confidence among professionals working in the energy sector,” the Energy Institute said as it released its latest survey on Wednesday.
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