Wednesday 7 June 2023

Ofgem embraces statutory net zero duty

Ofgem embraces statutory net zero duty

The UK energy regulator, Ofgem, has expressed its support for the recent amendment to the Energy Bill introduced by the UK Government.

This amendment will give Ofgem the legal authority to safeguard the interests of both current and future consumers while assisting the government in achieving its ambitious net zero target by 2050.

By aligning its objectives with the government's climate goals, Ofgem aims to ensure a sustainable and responsible energy sector that prioritises consumer protection and contributes to a cleaner and greener future for the UK.

The Chief Executive Officer of Ofgem, Jonathan Brearley, has emphasised the importance of transitioning to clean energy and gaining support from various stakeholders.

Brearley said: "We are laying the foundations for the energy system of the future. The net zero mandate has overwhelming backing from every part of the energy industry, consumer campaigners and climate activists.

"It underlines net zero is the best option, not only from a climate perspective but to ensure a secure, low-cost energy future."

National Infrastructure Commission Chair Sir John Armitt said: "It’s good that the government has seen the light on the need for Ofgem to be given an explicit net zero duty. The regulator now needs to use this mandate to build upon their recent decisions to accelerate strategic investment in the transmission network.

"Network investment is absolutely critical to achieving the large scale shift to renewable energy and low carbon transport and heating. In the forthcoming second National Infrastructure Assessment, the commission will make further recommendations on the governance changes needed to support the growth of the electricity network."

Written by

Bruna Pinhoni

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