- The REA warmly welcomes Ofgem’s net zero mandate;
- The change comes in an amendment to the Government’s Energy Bill;
- This commitment offers both practical and cost-effective benefits in helping the UK reach its climate change targets at the lowest possible cost to consumers;
- After calling for this for a number of years, the REA now looks forward to working with Ofgem on the path to net zero.
The REA (Association for Renewable Energy and Clean Technology) has warmly welcomed the Government’s plan to give Ofgem a net zero mandate to help Britain reach its climate change targets.
For the first time, Ofgem’s objectives will directly align the interests of consumers across the country with the UK’s plan to get to net zero by 2050, as a result of an amendment to the Government’s Energy Bill.
Together with our members and cross industry collaboration, the REA has long called for this mandate over several years, as it will encourage flow through to more supportive net zero decisions in the energy system, including key current blockages around grid connections and usage.
Dr Nina Skorupska CBE, Chief Executive of the REA (Association for Renewable Energy and Clean Technology) said:
“We are extremely pleased that Ofgem will now be tasked with protecting both existing and future consumers’ interests by supporting the Government to reach its 2050 net zero target. This is a hugely welcome commitment that makes sense from both a practical and cost-effective standpoint.
“A low-carbon and low-cost energy system will help to scale up long-term investment and stabilise prices. This in turn will help protect consumers, ensuring they receive the benefits of a decarbonised, affordable, and secure energy system. It should also encourage flow through to more supportive net zero decisions in the wider energy system, including addressing current substantial grid connection delays.
“This has been a key ask in the REA’s strategy and reaffirms government’s commitment to achieving UK net zero targets, ensuring that Ofgem’s role is clear: protecting the consumer and reaching net zero as complementary objectives.
“We now look forward to working with Ofgem as they help guide the system to Net Zero while also protecting consumers.”