Thursday, 1 November 2012

Business, consumption and the UK's competitive edge


Which will offer the biggest boost to the UK economy – using more gas or producing more renewable energy?

That’s the question policymakers are wrestling with, as they get ready to publish the Energy Bill and a gas strategy this autumn.

It’s a question that spawns more queries than answers however. Which fuel source can be produced in sufficient quantities to meet the UK’s power needs but also reduce carbon emissions to help the country hit its environmental targets? Which will keep UK companies competitive with the rest of Europe and the rest of the world? And should there be a black and white choice between gas and renewables at all?

Whatever the Government decides, the legislation must give enough certainty for power companies to invest the £110bn in building the new plants and electricity infrastructure the UK needs to meet its future energy demands, be they gas-fired, offshore wind or nuclear.

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