Simon Virley, UK chair of energy and natural resources at KPMG, comments on the upcoming UK election result and what the next secretary of state for energy & climate change will need to get to grips with on day one:
“Whoever takes on the energy policy brief in Government will face some tough choices, irrespective of whatever new policy initiatives they want to take forward. On security of supply, the next couple of winters are expected to be among the tightest this decade in terms of electricity capacity margins; whilst Britain’s overall dependence on imported energy is soaring as North Sea production declines.
On climate change, the Paris Conference is only a matter of months away; and there are stretching, legally-binding, targets to meet on carbon reduction and use of renewable energy. On affordability, the provisional recommendations of the Competition and Markets Authority (CMA) investigation into the ‘Big 6’ are expected soon. This is a challenging in-tray for whoever takes on this brief in the new Government, even before the overlay of new policies, or a Spending Review which will be tough for unprotected departments like DECC.“
Ann Burton, KPMG Corporate Communications
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