Homes and businesses depend upon reliable, affordable energy. The Government is ambitious in its plans to keep costs as low as possible for them over the coming decades, while delivering carbon targets, ensuring security of supply, and seizing the economic opportunities of the low carbon transition. This is a core element of the modern Industrial Strategy.
In order to inform its longer-term approach, the Government asked Professor Dieter Helm CBE to carry out an independent Review of the cost of energy, which was published on 25 October 2017. Professor Helm looked at how the energy industry, Government and regulators can keep the cost of electricity as low as possible, while ensuring the UK meets its domestic and international climate targets.
The Review considered the whole electricity supply chain – generation, transmission, distribution and supply. It looked for opportunities to reduce costs in each element and consider the implications of the changing demand for electricity, including the role of innovative technologies such as electric vehicles, storage, robotics and artificial intelligence.
The Review sets out a broad range of findings and recommendations covering all areas of the electricity supply chain. The Government is now carefully assessing the findings and recommendations set out in the Review. It provides an important contribution to the debate on the future of the electricity sector, and how costs can be minimised. As part of that process the Government is now seeking views from businesses, consumer groups and other stakeholders to inform its approach to reducing the cost of energy for homes and businesses.
Business and Energy Secretary Greg Clark said:
“Energy bills are too high for consumers. We have been clear that we are committed to bringing down costs, both for households and for businesses.
“I commissioned this review to start a debate about the future of our energy markets. Now I am opening up that debate, asking everyone with an interest to give us their views on Professor Helm’s ideas for bringing down the cost of energy for consumers.”
The deadline for responses is 5 January 2018. Source: PolicyFinder