CBI COMMENTS ON OFGEM REPORT ON UK ENERGY SECURITY
The CBI today commented on Project Discovery, Ofgem’s report into the UK’s energy security. John Cridland, CBI Deputy Director-General, said:
“This report serves as a stark warning that existing policy will not deliver the balanced energy mix needed to provide security for the UK, help cut carbon emissions, and maintain competitive prices.
“Britain needs new nuclear plants, clean coal, gas generation, wind and other renewable sources to be developed quickly, as well as more gas storage facilities. Having a balanced range of energy sources will help avoid over-reliance on too few sources, and help ensure that energy prices are affordable for consumers and businesses alike.
“Achieving all of this is going to require massive private-sector investment. In light of this, future policy must take into account the benefits of a competitive market and also the need to give some certainty to investors who will be required to pay for new energy sources."
In July 2009 the CBI published its blueprint for a secure and sustainable energy future, based on McKinsey & Company analysis. A copy of 'Decision Time: Driving the UK towards a sustainable energy future' is available here:http://www.cbi.org.uk/pdf/20090713-cbi-decision-time.pdf
3 February, 2010
Notes to Editors:The CBI is the UK's leading business organisation, speaking for some 240,000 businesses that together employ around a third of the private sector workforce. With offices across the UK as well as representation in Brussels, Washington, Beijing and Delhi the CBI communicates the British business voice around the world.
Media Contact:CBI Press Office on 020 7395 8239, out of hours pager 07623 977 854, or email press.office@cbi.org.uk