Responding to the Ofgem’s publication today of the results of its Targeted Charging Review, RenewableUK’s Head of Policy and Regulation Rebecca Williams said:
“Although we welcome the fact that Ofgem has listened to industry’s calls to modernise the way network charges are redistributed across the grid, we are concerned that today’s announcement risks damaging the UK’s ability to deploy cheap renewables as fast as possible for consumers. For example, just setting up yet another taskforce does very little to mitigate uncertainty for the energy industry and kicks the can down the road.
“We need to pull out all the stops to deliver the low carbon transition. Ofgem has a role to play in decarbonisation by minimising risks and not undermining the industry’s ability to attract much-needed investment. Ofgem’s current remit takes no account of this and that is why a clear change in strategic direction is needed to make it fit for purpose. Reforming Ofgem so that it takes account of the need to reach net zero rapidly and cheaply would unlock further investment to build the flexible, smart, clean energy system of the future – vital infrastructure which the UK needs to function in the decades ahead”.
RenewableUK’s members are building our future energy system, powered by clean electricity. We bring them together to deliver that future faster; a future which is better for industry, billpayers, and the environment. We support over 400 member companies to ensure increasing amounts of renewable electricity are deployed across the UK and to access export markets all over the world. Our members are business leaders, technology innovators, and expert thinkers from right across industry.
More on Ofgem’s Targeted Charging Review announcement is available here.