22/06/2010
Association of Electricity Producers comment on Emergency Budget announcement
In response to today’s Emergency Budget announcement, David Porter, Chief Executive of the Association of Electricity Producers, made the following comments:
‘The government recognises that the industry will have to spend £200 billion in the next decade to provide secure, low carbon energy and that we need action to attract this unprecedented level of private investment. The Association will engage constructively in the discussions which are needed to bring about changes to the energy market, to attract massive investment to the UK. If we get this right, not only will we have plenty of electricity and low carbon emissions, but, there will be huge employment opportunities in new energy infrastructure and technology. But, if we fail, there could be serious consequences.’
‘The industry needs a robust and durable carbon pricing regime, which will steer investment towards low carbon solutions. The government is proposing changes to the Climate Change Levy, in order to provide more certainty and support to the carbon price. We shall be keen to see that any such proposals are both workable, cost-effective and that they work effectively alongside the EU Emissions Trading Scheme, which applies emissions reductions Europe-wide.’
ENDS
Notes
The Association of Electricity Producers represents the many different companies - large and small - that make the electricity upon which the UK depends. Between them, the members embrace virtually all of the generating fuels and technologies used commercially in the UK – from coal, oil, gas and nuclear power to wind, wave, hydro and energy from waste. AEP members want electricity supply to be reliable, competitively-priced and sustainable. The Association works with government, regulators and the media, to improve understanding of the issues and opportunities that are experienced by the electricity generating industry.
Rachel Hunter, Communications Executive, 020 7930 9390