Bedford & Kempston Conservatives has welcomed the new plan announced by the Conservative Government which will bolster the UK’s energy supply and cut emissions, and reduce household bills in Bedford.
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.
Today’s 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 Conservative 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, Prime Minister Rishi Sunak said:
“When global energy supplies are disrupted and weaponised by the likes of Putin, we have seen household bills soar and economic growth slow around the world.
“We have stepped in to shield people from its worst impacts by helping to pay around half the typical energy bill. But we are also stepping up to power Britain and ensure our energy security in the long term with more affordable, clean energy from Britain, so we can drive down energy prices and grow our economy.
“That's why we're driving forward plans to boost renewables, revive nuclear and build new thriving industries like carbon capture, which will in turn create good jobs across the country, provide new opportunities for British businesses at home and abroad, and maintain our world-leading action to reach net zero.”
