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UK needs clear energy policy soon: industry

Mon, 08/09/2010 - 6:28am
Reuters

LONDON (Reuters) - Britain will meet its targets for a low-carbon economy only if the new government provides clarity on energy policy within six months, so companies can make the right investment choices, a leading UK business lobby said.

"Business is convinced that a secure low-carbon energy system at an acceptable cost is possible but is doubtful that current government policy will enable the investment needed to deliver this," said Richard Lambert, director general of the Confederation of British Industry (CBI) in a report released on Monday.

The government should deliver decisions on a number of key energy policies by February next year, including its plans for new nuclear power stations, revision to tax policy on gas storage and North Sea projects and its choice of winners for carbon capture and storage (CCS) concepts, the CBI said.

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