ENERGY groups yesterday called for more technological investment to solve the UK’s looming crisis after warnings from regulators a future squeeze on production will cause price hikes for consumers.
The chief executive of energy watchdog Ofgem, Alistair Buchanan, yesterday warned a fall in the UK’s power production over the next few years would lead to more energy imports and rising prices.
The UK is slowly closing its coal-fired power plants and turning to gas, but this is coming at the same time as a squeeze on international gas supplies.
The chief executive of trade body Energy UK Angela Knight said: “It is essential that the authorities pay close attention to the transition such as assessing what capacity is needed and what headroom is required.”
Simon Harrison, a chair at the Institution of Engineering and Technology, said: “A stable policy regime and confidence around decarbonisation targets is required to bring [...] investment forward.”
Senior Conservative MP Tim Yeo yesterday said the last Labour government was to blame for neglecting energy policy.