Trade body RenewableUK has warned that restructuring Britain’s energy networks risks being costly and complex, in its comments on the Labour Party’s plans for nationalisation of the grid.
Labour leader Jeremy Corbyn proposes to take the National Grid and distributed network operators into public ownership.
The plans, detailed in the party’s “Bringing Energy Home” document, published today, include a National Energy Agency that will own and maintain transmission infrastructure, to replace the National Grid.
Labour said it plans to nationalise the country’s national grid and transform the network so that it “leads the way in decarbonising our economy”.
But RenewableUK’s head of external affairs Luke Clark struck a note of caution, commenting: “RenewableUK members are investing tens of billions of pounds to transform our energy sector, and any reforms must support continued investment in a low carbon future and the rapid deployment of renewables.
“Restructuring our energy networks risks being a costly and complex option, when we also need to speed up the decarbonisation of our economy.”
He added: “There is much more that can be done within existing structures to enable investment in cheap renewable energy, and clean jobs and industry around the UK.”
Clark said policymakers could accelerate the UK’s journey to a smarter electricity system, with flexible technologies and markets saving consumers billions of pounds each year.