Major Investments in the UK Energy Industry
Earlier today, the government announced that consumers in the UK could save billions of pounds thanks to major changes in the way electricity is made, used and stored. (Full article)
Commenting on the announcement and major new investment in the UK energy industry, Andrew Rollo, Head of Energy at land, property and business consultancy George F. White said:
“The Government has just announced major new investment in the energy sector, a welcome change from policies which have had an increasingly heavy impact on the viability of small scale onsite generation. The investment highlights a move towards de-centralised energy generation, storage and flexible usage which is very encouraging.
The changes aim to reduce reliance upon centralised generation assets and shift focus to make it attractive for consumers to generate power for their own usage as well as to export to support the grid at peak times. An additional element is to incentivise consumers to smooth their demand profile by performing non-time critical activities when grid supply is not limited.
While this initiative is aimed primarily at small scale developments, it will undoubtedly have knock on effects for larger equipment and usages. With these changes coming into effect over the coming months, we expect that our energy team will be contacted by clients who are looking to take advantage of these opportunities for both personal and business use, and energy services, like ours, to adapt to the proposed changes.”