• The King’s Speech, delivered today, confirms plans for annual oil and gas licensing rounds;
• The REA reiterates that true energy security will be delivered by an urgent transition to home grown, inexhaustible clean energy, accompanied alongside a large-scale energy efficiency programme;
• Concrete steps must now be taken to ensure and safeguard a stable long-term investment climate for renewables and clean technologies in the Autumn Statement.

The REA (Association for Renewable Energy and Clean Technology) has responded to the King’s Speech, delivered today, as the final legislative programme before the next general election.

Commitment to attract record levels of investment in renewable energy and to speed up grid connections to reach net zero is welcome, however, using the King’s Speech to advance the expansion of North Sea oil and gas exploration in the hope of establishing a clear divide over the green agenda with other political parties, serves neither industry nor consumers, says the REA, and is “not compatible” with energy security and net zero.

While the Energy Act 2023 achieving Royal Assent last month does strengthen energy security, help support the delivery of net zero and help make household bills more affordable in the long-term, and was warmly welcomed by the REA, the entire energy transition still faces significant challenges.

The REA calls for concrete steps to be taken to ensure and safeguard a stable long-term investment climate for renewables and clean technologies in the Autumn Statement, especially in light of annual oil and gas licensing now being proposed.

This includes green supply chain support in the light of US and EU support diminishing the attractiveness of the UK as an investment destination, new routes to market to decarbonise heat, zero rated VAT for new small-scale energy storage installations, ambitious transport decarbonisation measures and new funding for Local Authorities to deliver the new Simpler Recycling measures.

Dr Nina Skorupska CBE, Chief Executive of the REA (Association for Renewable Energy and Clean Technology) said:

“In a time when consumers and industry are seeking reassurance, the UK Government is not providing any guarantees and playing politics with our future.

“The Government should be using the limited parliamentary timetable we have left to strengthen energy security and net zero in the UK. Instead, it is back-pedalling on measures to reach our own legally binding targets.

“The Prime Minister could be stimulating the economy – one of his major priorities – by accelerating the energy transition through green supply chain support, finding new routes to market to decarbonise heat, zero rated VAT for new small-scale energy storage installations, ambitious transport decarbonisation measures and new funding for Local Authorities to deliver the new Simpler Recycling measures. There was no mention in the King’s Speech today to address these barriers.

“Moving forward, the REA continues to urge all political parties to focus on delivering the investment we need to grow the renewable energy industry, unlocking the abundant potential of our clean technologies. The UK’s energy security and net zero targets depend on it.”

—ENDS—