Jed Bird - Operations & Trading Manager - The Queens speech on Wednesday this week outlined some key points within the Energy Bill which we have summarised below.

 

  • To increase the security of supply which ensures energy is both affordable and reliable by attracting further investment to improve competitiveness
  • Maximise the economic recovery of oil and gas from UK offshore fields by appointing the Oil and Gas Authority (OGA) as an independent regulator
  • Transferring existing consenting powers from Whitehall to local planning authorities regarding wind farm applications but would not affect the existing regimes in Scotland & NI
  • Investment in new energy infrastructure such as new nuclear and renewables and towards the exploration of gas