Britain’s energy regulator has said it will change how it governs the industry to help meet the government’s climate targets. The regulator published a wide-ranging climate action plan which aims to help get 10m electric vehicles on our roads by 2030. It also supports a fourfold increase in offshore wind generation, while protecting homes from rising energy bills. The announcement comes after the UK’s first Climate Assembly Meeting was held in Birmingham on the 25th January.
Ofgem’s incoming chief executive, Jonathan Brearley, set out the regulator’s climate manifesto after critics warned that its outdated statutory duties were not aligned with the government’s climate policies.
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The nine-point plan in brief.
- Make price controls more flexible to support firms to invest in clean energy.
- Set up a regulatory fund to help invest in climate-change solutions.
- Explore ways to create a “lowest cost” offshore grid to support wind power.
- Work with government and industry to decarbonise heating.
- Make UK energy systems fit for a net-zero future.
- Create a more flexible electricity system to help move towards net zero.
- Develop a regulatory strategy to help get 10m electric cars on the road by 2030.
- Support energy firms to create low-carbon products and services for consumers.
- Change its regulatory approach and take “big decisions” on decarbonisation faster.