Britain’s energy regulator has said it will change how it governs the industry to help meet the government’s climate targets, after coming under fire for failing to prioritise the climate emergency.
The regulator published a wide-ranging climate action plan on Monday, which aims to help get 10m electric vehicles on our roads by 2030 and support a fourfold increase in offshore wind generation, while protecting homes from rising energy bills.
Ofgem’s nine-point plan, in brief
- Make price controls more adaptable to help firms invest in clean energy.
- Set up a regulatory fund to help invest in climate-change solutions.
- Explore ways to create a “lowest cost” offshore grid to support wind power.
- Work with government and industry to decarbonise heating.
- Make UK energy systems fit for a net-zero future.
- Create a more flexible electricity system to help move towards net zero.
- Develop a regulatory strategy to help get 10m electric cars on the road by 2030.
- Support energy firms to create low-carbon products and services for consumers.
- Change its regulatory approach and take “big decisions” on decarbonisation faster.
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