Andy Kerr, founder of BOXT, has commented on Labour’s policies that were announced in the King’s Speech and what this could mean for consumers across the UK.
The King’s speech announced that the new Labour government plans to focus on “a clean energy transition which will lower energy bills for consumers over time”, stating that a new bill will be introduced to set up a publicly owned clean power company.
Andy said: “The significant energy challenges facing the new UK government have been thoroughly discussed and debated in the months leading up to the election. A persistent issue remains balancing energy affordability, supply security, and achieving net zero carbon emissions.
“Underpinning these challenges are complex factors such as grid capacity, planning permissions, market reforms, green subsidies and taxes, supply chain pressures, and the necessity to ensure a fair transition to a net zero economy.
“Labour has stated that their main goal for the energy industry is to make the UK a ‘clean energy superpower’. They see achieving net zero as a significant opportunity for growth and plan to collaborate with the private sector to increase the number of completed projects. Specifically, Labour aims to double onshore wind, triple solar power and quadruple offshore wind by 2030.
“In light of these ambitions, there is a hope for stability and clear direction from the government, ensuring that the energy industry can move forward and achieve its targets. Clear policies, consistent support, and streamlined regulatory processes will be crucial in providing the certainty needed for long-term investments.
“By fostering a stable environment, the government can help unlock the full potential of renewable energy, driving innovation, creating jobs and ensuring a sustainable and secure energy future for the UK. This in turn should give consumers confidence in renewable energies as they see positive changes being made.”