An independent energy review has been announced by the UK Business and Energy secretary Greg Clark. Led by professor Dieter Helm it is intended to deliver on the government’s commitment to consider how to keep energy costs as low as possible. As part of the government’s Industrial Strategy, the review will consider the whole electricity supply chain and identify ways to reduce costs;
Professor Helm, one of Britain’s leading energy experts, will look specifically at how the energy industry, government and regulators can keep the cost of electricity as low as possible, while ensuring the UK meets its domestic and international climate targets. The government’s ambition is to have the lowest energy costs in Europe, for both households and businesses.
This ambitious review builds on the commitment made in the Industrial Strategy Green Paper and will consider the whole electricity supply chain – generation, transmission, distribution and supply. It will look for opportunities to reduce costs in each element and consider the implications of the changing demand for electricity, including the role of innovative technologies such as electric vehicles, storage, robotics and artificial intelligence.
Business and Energy secretary Greg Clark commented: “All homes and businesses rely on an affordable and secure energy supply and the government is upgrading our energy system to make it fit for the future. The review will consider how we can take advantage of changes to our power system and new technologies to ensure clean, secure and affordable supplies over the coming decades.
Professor Helm commented: “My review will be independent and sort out the facts from the myths about the cost of energy, and make recommendations about how to more effectively achieve the overall objectives.”
The Government has already asked the regulator to come forward with proposals to extend the price protection currently in place for some vulnerable energy consumers to more people on the poorest value tariffs. This builds on action taken to cap the price for 4 million pre-payment meter customers which came into force on 1 April 2017.
An advisory panel will consist of Terry Scuoler CBE, CEO of EEF, the Manufacturers’ Organisation, Nick Winser CBE, chairman of the Energy Systems Catapult, Laura Sandys, chief executive of Challenging Ideas,
Isobel Sheldon, Engineering & Technology director of Johnson Matthey Battery Systems, and Richard Nourse, managing partner of Greencoat Capital LLP.