The UK has maintained its overall fourth place in the World Energy Council’s annual ranking of energy and climate policies but has lost its AAA balance score to AAB due to a downgrade in its energy equity score.
The so-called Energy Trilemma Index in its fifth edition and ranks 130 countries across energy security, energy equity and energy sustainability.
The energy equity score, which measures the accessibility and affordability of energy across the population, has suffered as electricity has become comparatively more expensive.
While the UK has maintained a stable position on its energy security score, it continues to face significant challenges in securing its future energy supply. As a result the UK remains on the negative watch list.
World Energy Trilemma executive chair of the study Joan MacNaughton said: “If the UK is to remain ahead of the pack, and regain its ‘triple A’ positioning, the government must give more predictability to investors in the way the electricity market reforms are progressed.
“More transparency is needed about the future approach to contracts for difference and the levy control framework.”
Despite the loss of its ‘triple A’ score, the UK continues to lead most European countries on the energy trilemma.
Two new countries have been added to the negative watch list, which in 2014 included Germany, Italy, Japan and the UK.
The countries are South Africa due to its electricity crisis, and the US where lack of investment in ageing infrastructure and exposure to extreme weather events pose threats to the country’s currently strong energy security performance in the Trilemma Index.
Image: sxc
UK holds firm in WEC index
Annual climate and energy policy ranking sees country still in fourth
By EBS