Energy UK Encourages Net Zero Transition As Big Economic Opportunity

Last updated: June 27, 2024

Energy industry trade body Energy UK recently urged politicians to consider the potential economic benefits of net zero. This is as political parties are ramping up campaign efforts ahead of the July 4th election.

The trade association, which represents 100+ companies nationwide has highlighted a key 2023 study from Oxford Economics on a proposed net zero transition.

The analysis suggested that increasing the speed of such a transition could add £240 billion to the UK economy come 2050.

The trade association also highlighted concerns regarding reduced progress taking away from the national economy.

The aforementioned report suggested that energy bills nationwide were £9.8 billion higher for the 2022/23 period. This (as claimed) being the result of green energy policies being taken off the table.

Summarising the trade body’s case, Emma Pinchbeck, Energy UK Chief Executive sees steps in the wrong direction increasing taxpayer expenses at a greater rate than the cost of the necessary initial renewable investments.

Energy UK is keen to urge all political parties to keep in mind the potential value of a faster net zero transition.

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