MPs to investigate investor confidence in the renewables sector
The House of Commons’ Energy and Climate Change Committee has launched an inquiry into whether increased uncertainty around energy policy is undermining investor confidence.
The inquiry is one of a series of investigations being held by the committee this autumn, and follows the publication of a new report by EY that warned recent changes to Government policies have left investors “baffled”.
The Committee will be investigating the factors that contribute to investor confidence in the energy sector and to build an understanding of how DECC’s policy-making process might impact on investor decisions.
“Energy projects like offshore wind farms and nuclear power stations can take years from planning to completion, so maintaining investor confidence is crucial if we want to upgrade our energy system,” said Committee Chair Angus MacNeil.
“Energy experts have told us that the Government has spooked investors with a series of sudden energy policy changes announced over the summer without proper parliamentary scrutiny.
“We will be looking at what steps Government must take to restore confidence in the UK’s energy sector and improve DECC’s policy making processes.”
The committee has also launched a separate inquiry into what lessons can be learned from energy efficiency programmes like Zero Carbon Homes and the Green Deal.
The deadline for submissions to the committee on matters relating to investor confidence is Monday 26 October.
The deadline for its energy efficiency investigation is Monday 12 October.
Jamie Hailstone is a freelance journalist and author, specializing in local government, transport and energy issues