- 23 March 2010
Just weeks ahead of an expected national election, the UK’s Conservative Party has released plans for a ‘radical overhaul’ of Britain’s energy policy should they be elected to government. The green paper
, titled ‘Rebuilding Security – Conservative energy policy for an uncertain world’, lays out how a Conservative government would addresses the dual challenges of climate change and energy security
by “putting Britain back on track towards the development of a low carbon economy on which our prosperity ultimately depends”.
The Conservatives aim to create solutions that are market-based, attractive to commercial investors, with supporting public policies that reduce market barriers to competition. The paper details a set of 12 specific actions that a Conservative government could implement immediately. These include reform of the Climate Change Levy to provide a floor price for carbon, accelerating the demonstration of Carbon Capture and Storage (CCS) technology, promoting renewable energy and creating a Green Investment Bank, which would consolidate existing sources of public investment and leverage crucial private sector finance.
Launching the paper last week, David Cameron, Leader of the Conservative Party, said: "We are setting out a Conservative programme for the long-overdue reform of British energy policy together with the actions we will take to mobilize the investment required to enact those reforms and our strategy for minimizing the cost to consumers".
Greg Clark, Shadow Energy and Climate Secretary, said proposals would amount to “the biggest overhaul of British energy policy in a generation”.
Steve Howard, CEO of The Climate Group said: “Weeks before a national election, it is encouraging that UK climate and energy policy is attracting significant cross-party attention. This green paper for UK energy policy makes a positive and serious contribution towards securing a diverse, reliable and affordable energy supply for Britain and making it affordable for British consumers. Conservative proposals for a Green Deal for home energy efficiency, smart meters and for fast-tracking the UK’s first commercial scale CCS plant are particularly welcome, and could not only help people save money and energy but create new jobs and low carbon growth.”