Energy UK has underscored the substantial private capital flowing into the nation's clean energy sector, revealing that over £100 billion has been invested in the past two years alone. This statement was made by Dhara Vyas, Chief Executive of Energy UK, in response to a recent speech by Andy Burnham MP concerning the UK economy.
Ms Vyas highlighted that more than half of the UK's electricity generation now originates from clean, domestically produced energy sources, attributing this expansion largely to private sector commitment. This investment, she noted, has been instrumental in creating secure employment opportunities across the country and stimulating manufacturing in key regions such as Hull and the North East.
The organisation stressed the ongoing need for a collaborative approach between government and businesses, emphasising that clear policy frameworks and close engagement are vital for continued progress. With billions of pounds still required for developing new, secure energy sources and the essential infrastructure to distribute this power nationwide, Energy UK views this period as critical for the UK's economic future and long-term prosperity.
Furthermore, Energy UK reiterated its long-standing call for government intervention to reduce the high cost of energy for both households and businesses. The organisation firmly believes that a widespread transition to electric heating and transport, alongside the electrification of businesses and industrial processes, represents the sole viable path towards achieving stable energy bills and establishing a more resilient energy system.
The Bank of England has consistently monitored energy prices as a key driver of inflation, and any measures that could lead to more stable energy costs would be welcomed as a factor supporting economic stability. For UK businesses, particularly those in manufacturing and heavy industry, the prospect of more predictable energy expenses could offer greater certainty in operational planning and investment decisions.