Richard has welcomed the new plan announced by the Government which will bolster the UK’s energy supply and cut emissions, and reduce household bills in North East Bedfordshire.
Since 2010, the UK has seen £198 billion of investment into low carbon energy, through a mixture of government funding, private investment and levies on consumer bills. Going forward it is anticipated around £100 billion of private investment will be forthcoming into the UK’s energy revolution.
The UK has also broken numerous records in generating renewable electricity, leading the world in offshore wind – the UK is now in prime position to export its world-leading expertise.
These new measures go further to secure the UK’s energy security by investing in new British nuclear power, Carbon Capture, Utilisation and Storage and the emerging floating offshore wind industry.
The next generation of British nuclear power will be backed by Great British Nuclear, the Small Modular Reactor competition and the £120 million Nuclear Enabling Fund. The Conservative’s commitment to nuclear power means every single nuclear reactor currently operational in the UK was given permission under the Conservative Party.
The government will also bolster the UK’s energy storage with a world-leading commitment to Carbon Capture, Utilisation and Storage. Today’s plan announces the Government will support eight projects backed by £20 billion of funding, securing up to 50,000 jobs.
Today’s package of measures will levy vital investment to our clean energy sector to ensure our path to net zero creates new jobs and cuts bills for families.
Commenting, Richard Fuller MP said:
Putin’s weaponisation of energy has led to household bills soaring and economic growth slowing around the world. We stepped in to shield people by paying around half the typical energy bill, but we must go further to secure our long-term energy security and prosperity.
This multi billion pound plan, Powering Up Britain, secures the future of our energy system, increases our energy efficiency, bring bills down and harnesses the new jobs created on our path to net zero as we grow the economy.
This will not only put us on a clear path to clean, secure energy but mean families in North East Bedfordshire do not pay the price for expensive, volatile fossil fuels.
