Kate Mulvany,Principal Consultant at **Cornwall Insight **said:
“The King’s speech provided some welcome clarity on the new government’s plans to accelerate the green energy transition.
“With such ambitious goals, the government will need to show quick progress to assure both industry and consumers that it will meet its manifesto promises. We expect the legislation on Energy Independence and Great British Energy announced in the speech, to be the driving force behind industry wide change, turning policies from ideas on paper into real, tangible progress.
“Early signals from Labour have mirrored pre-election promises on making the UK a clean energy superpower, including a lift on the de facto ban on onshore wind and granting approval of three large solar PV projects. However, they face significant challenges in reaching their 2030 power decarbonisation targets, as financial constraints, supply chain challenges, and intense global competition for limited resources pose hurdles.
“Structural issues we’ve previously seen act as a barrier to decarbonisation – notably how the electricity market works and issues with planning and grid access – will become prominent and more urgent.
“While we now have some detail on the plans, the industry will no doubt press for more clarity on reforms. Investors and operators will be eager to see certainty and progress on existing programs, such as REMA, which seem to have been relegated to the side-lines. Detail on how Great British Energy’s involvement would accelerate a mature market like offshore wind isn’t yet known. Much reform will be dependent on availability of regional experts, for example partnerships with the National Wealth Fund and planning reform are expected to draw on local government resources.
“While initial signals have been positive, there is considerable external pressure to maintain momentum and demonstrate how promises can be realised.”
"We expect the legislation on Energy Independence and Great British Energy announced in the speech, to be the driving force behind industry wide change, turning policies from ideas on paper into real, tangible progress."
Kate Mulvany Principal Consultant
