SSE chief executive Alistair Phillips-Davies has written to BEIS Secretary Greg Clark setting out the company’s energy policy wishlist following the UK’s vote to leave the European Union.
The utility’s three priorities for post-Brexit Great Britain and Northern Ireland energy markets include stability for existing and future UK energy investments by maintaining existing energy policy frameworks such as carbon budgets.
SSE also called for continued trade with European electricity and gas markets to ensure security of supply, while maintaining Northern Ireland’s access to the Irish Single Electricity Market and arrangements for gas.
“The GB energy market requires considerable investment in the years ahead and SSE has outlined plans to invest around £5.5bn in the period 2016-20,” the letter stated.
“We said prior to the referendum that it did not present an immediate risk to how we serve our customers or to our investments, and this remains the case.”
Phillips-Davies set out a series of specific policy measures including ratifying the Paris climate change Aagreement, extending the carbon price floor to 2025, the maintenance of the capacity market with annual capacity auctions.
SSE also called for the UK’s Contracts for Difference support mechanism for renewables to continue into the 2020s.
Phillips-Davies also suggested BEIS’ capacity market arrangements support new pumped storage capacity, as well as decentralised and domestic storage facilities.
Image: Alistair Phillips-Davies (SSE)
SSE reveals post-Brexit vision
Chief executive sends policy wishlist to BEIS Secretary Greg Clark
By EBS