Angela Knight, Chief Executive of Energy UK – the trade association which represents the Big Six energy companies – has called for ‘political and regulatory certainty’ to encourage investment in UK energy markets and infrastructure.
Speaking at the trade body’s annual conference, she said: “The new energy debate is about who pays, how much and for what. The story has moved on from the old ‘trilemma’ – decarbonisation, energy security and affordability – but everyone needs to work together to create the environment where the UK is working to build a better energy future.
“We need political, legal and regulatory certainty – and none of it can be done for nothing. Investment in generation is not disconnected from the business and household bill. Energy security cannot be achieved without investment.
“We in the industry can do much but to get things working well in the long run, we need everyone to pull together and for a serious debate to take place.
“Major changes are taking place in electricity generation. We know a lot needs to be done – particularly in this transition period from now to 2020 – but the industry is subject to an array of sometimes competing and overlapping policies.”
Knight also highlighted the importance of the energy industry to the UK. It is a major employer, supporting 650,000 jobs and contributes more than £100 billion to the economy each year.
Energy UK has more than 80 companies as members, comprising energy providers and suppliers of all sizes working in all forms of gas and electricity supply and energy networks. Its members generate more than 90% of UK electricity and provide light and heat to some 26 million homes.