Green paper on industrial strategy
The Department for Business, Energy and Industrial Strategy (BEIS) is consulting on its proposals for the UK’s industrial strategy in a drive to improve economic activity, productivity and growth.
The green paper entitled ‘Building our Industrial Strategy’ sets out ten key ‘pillars’ of energy.
Costs on paper
It focusses on reducing costs while ‘decarbonising’ the power and industrial sectors. It also looks into minimising business energy costs.
The paper also draws attention to synergies between the automotive sector and low carbon energy development and research, particularly ‘smart’ technologies, smart metering and energy storage.
The commitments made in the paper are;
- a long-term road map to minimise business energy costs during 2017;
- a review looking into reducing the cost of the ‘decarbonisation’ process in the power and industrial sectors;
- the Emissions Reduction Plan to be published during 2017; and
- the case for a research institution focussing on battery technology, energy storage and grid technology - the review will be published in early 2017.
Energy expert insight
”We are moving towards a lower carbon electricity generation and distribution system and planning for the transition towards electric vehicles. Businesses and investors need specific measures which they can see will positively support the multi-billion pound investments needed in the transport and power sectors over the next decade.Unfortunately the green paper seems light on specifics. It promises roadmaps, reviews, the long awaited Emissions Reduction Plan and a steady move away from direct investment support towards reliance on competitive markets to deliver our energy.” Alastair Fells MEI.To find out how our energy law specialists can help your business, please contact Andrew Davison on 0191 211 7950 or to read more click here.