UK RENEWABLE ENERGY INVESTMENT: KINGS SPEECHIndustry News
Yesterday saw the UK's first king’s speech in over 70 years as HM King Charles first State Opening of Parliament as he delivered a speech to MPs and peers within the House of Lords setting out the agenda and laws of the government for that parliamentary year.
Key points throughout the speech were dedicated to UK energy, with the UK government aiming to attract record levels of investment in renewable energy sources, reform grid connections, helping to get UK on track for decarbonising faster than other economies.
However, criticism hit when the plans to grant yearly North Sea Oil & Gas licenses were also mentioned. The Prime Minister commits to future oil and gas licenses with the aim to boost British energy independence, grow our economy and strength the UK’s energy security. By introducing this bill, the government are hoping to reduce reliance on international energy markets and emission imports from overseas, creating 200,000 jobs as it grows.
Across the world, renewable energy businesses are heavily investing in renewables to help support the future of our planet.
Could this bill the economy, lower customer bills and become a success, or is it being seen as a political dividing line?
For more information regarding the Kings Speech, and what people of the industry have to say, head over to the below sources.