Prime Minister David Cameron has appointed a new UK Energy Minister in his Cabinet re-shuffle in which MP Matthew Hancock has replaced Michael Fallon as Minister of State for Business, Enterprise and Energy.
Hancock, who gained a PPE at Oxford and a Masters in economics at Cambridge, has been MP for West Suffolk since 2010. He previously worked at the Bank of England as an economist.
A keen horse-racing fan, he also rode in a race at Newmarket, and despite odds of 25/1 he won the race to raise thousands for charity in the process.
Hector Grant, Chief Executive of Scotland’s Industrial and Power Association (IPA) said: “I congratulate Matthew Hancock on his promotion to this enhanced role in the Government. In a radical shake-up of the Cabinet, the Prime Minister has given him this important role as energy minister.
“We hope that along with the Secretary of State for Energy and Climate Change they will balance the need for sufficient capacity with low carbon targets and price stability that the industry and consumer need.”
And while personally congratulating Hancock on his promotion in government, Oil & Gas UK Chief Executive Malcolm Webb commented: “However, this move marks the appointment of the fourth Energy Minister in less than two years and Nicky Morgan’s promotion means that we will also have the fifth Treasury Minister with responsibility for oil and gas in less than three years.
“These change in Government leadership comes at a critical time for our industry and must be managed to result in the least disruption to the conduct of policy initiatives now in train.”
Maria McCaffery, Chief Executive, Renewable UK, added: “Hancock brings with him strong experience in business and skills from his previous role as Minister of State for Skills and Enterprise.
“The jobs of the future are in green energy, and with a dual remit across the Department for Business, Innovation and Skills and the Department of Energy and Climate Change.
“Hancock will be poised to ensure that these tens of thousands of jobs are realised. We are pleased to see that he will also be attending Cabinet meetings.”