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Industry letter calls for decarbonisation target in energy bill Industry letter calls for decarbonisation target in energy bill
(35 minutes later)
New jobs and financial investment in the energy sector are at risk if the government does not ensure its imminent energy bill supports low-carbon power, an unusual coalition of the trade bodies representing the renewable energy, nuclear power and carbon capture industries has warned.New jobs and financial investment in the energy sector are at risk if the government does not ensure its imminent energy bill supports low-carbon power, an unusual coalition of the trade bodies representing the renewable energy, nuclear power and carbon capture industries has warned.
The letter to the energy and climate secretary, Ed Davey, strongly backs the call from the government's climate advisers, the Committee on Climate Change (CCC), to include a reference in the bill for the power sector to be almost entirely decarbonised by 2030.The letter to the energy and climate secretary, Ed Davey, strongly backs the call from the government's climate advisers, the Committee on Climate Change (CCC), to include a reference in the bill for the power sector to be almost entirely decarbonised by 2030.
On Saturday, the Observer revealed that the amount of power expected to be generated from gas by 2030 has quadrupled in the last year, raising fears that carbon targets will be missed and low-carbon generation crowded out. The final version of the energy bill, due to bring in the biggest reforms to the energy market in two decades, is expected towards the end of November. The draft version was published in May.On Saturday, the Observer revealed that the amount of power expected to be generated from gas by 2030 has quadrupled in the last year, raising fears that carbon targets will be missed and low-carbon generation crowded out. The final version of the energy bill, due to bring in the biggest reforms to the energy market in two decades, is expected towards the end of November. The draft version was published in May.
The letter signed by the heads of RenewableUK, the Carbon Capture and Storage Association and the Nuclear Industry Association says that a decarbonisation reference would lower "the perceived political risks, but could also reduce the cost of capital for decarbonising the power sector. We therefore believe that this could be very important for investment going forward."The letter signed by the heads of RenewableUK, the Carbon Capture and Storage Association and the Nuclear Industry Association says that a decarbonisation reference would lower "the perceived political risks, but could also reduce the cost of capital for decarbonising the power sector. We therefore believe that this could be very important for investment going forward."
The CCC has recommended electricity in 2030 be produced at no more than 50g of CO2/kW by 2030; gas power stations emit around 350g of CO2/kW. The current energy bill draft has no such target.The CCC has recommended electricity in 2030 be produced at no more than 50g of CO2/kW by 2030; gas power stations emit around 350g of CO2/kW. The current energy bill draft has no such target.
The trade body chiefs, who represent more than 1,000 companies between them, say that any significant delay in the bill "could result in investment being postponed, with major implications for associated new industrial development and jobs in a high-tech, high growth sector."The trade body chiefs, who represent more than 1,000 companies between them, say that any significant delay in the bill "could result in investment being postponed, with major implications for associated new industrial development and jobs in a high-tech, high growth sector."
John Sauven, the executive director at Greenpeace, which opposes nuclear power, took the surprising step of welcoming the letter, saying: "This letter shows that whilst different industries will have differing preferences for the exact mix of energy technologies, there is unity from across huge swathes of the business community on the need for a clear goal in the energy bill to take carbon almost completely out of the electricity system by 2030."John Sauven, the executive director at Greenpeace, which opposes nuclear power, took the surprising step of welcoming the letter, saying: "This letter shows that whilst different industries will have differing preferences for the exact mix of energy technologies, there is unity from across huge swathes of the business community on the need for a clear goal in the energy bill to take carbon almost completely out of the electricity system by 2030."