On his first day in office, Ofgem’s new chief executive Jonathan Brearley has launched Ofgem’s Decarbonisation Action Plan.
Chief executive Jonathan Brearley said:
“Britain has come a long way. It has decarbonised faster than any other major economy, but we must go further, particularly on heat and transport. We are taking an approach that recognises that our role protecting consumers includes achieving net zero.
“As low-carbon renewable energy grows and more transport goes electric, the energy system needs to be more flexible to respond to peaks and troughs in both supply and demand. Our new price controls for network companies will clear the path for this, providing the incentives for investment for the future.
“It is now vital that the energy industry rises to the challenge and demonstrates how it will work with the Government and Ofgem to decarbonise Britain’s energy system at lowest cost.”
The plan sets out nine actions. These will ensure energy networks are ready to deliver net zero, support Government to tackle the difficult question of how to decarbonise heat and transport and encourage innovation to provide new low carbon products and services for consumers. The plan recognises that there are trade-offs to overcome, such as fairly spreading the cost of a low carbon energy system between today’s and tomorrow’s consumers.
Full Report OFGEM Decarbonisation Action Plan