MPs have voted against an amendment to the Energy Bill which would have seen the introduction of a 2030 target for the decarbonisation of the power sector.
It’s disappointing for green campaigners and investors alike, but it does mean there is an even stronger case for immediate action to unlock the low-carbon investment we need.
Keith MacLean, Policy and Research Director at SSE said: “The decision not to introduce a 2030 decarbonisation target sends all the wrong signals to low-carbon investors.
“There is a huge opportunity for theUKto build R&D capability, develop suipply chains, create jobs, bring down costs and ultimately become a world-leader in low-carbon technologies. But that requires sustained investment, which won’t be forthcoming without a clear, stable policy framework.
“The Government still has an opportunity to keep investment flowing while it completes its reforms by extending access to the existing, proven Renewables Obligation support mechanism beyond the current, arbitrary 2016 cut-off. Otherwise, investment levels will fall off a cliff and we will lose out to countries where the policy framework is more secure.”