The Clean Power 2030 action plan leaves critical questions unanswered say analysts Cornwall Insight.
Kate Mulvany Principal consultant said there was a lack of clarity around electricity market reforms which remain a significant barrier, threatening low-carbon investment and the achievement of the ambitious 2030 target.
She commented: “A key concern is the uncertainty surrounding the Review of Electricity Market Arrangements (REMA). Developers face a stalemate, unable to commit the necessary capital and resources without a clear understanding of how changes will impact the Contract for Difference scheme, the Capacity Market, network charging or other key areas.
“This risk of an investment freeze underscores the urgent need for greater transparency and direction.
“Proposed fundamental reforms, most notably the shift away from national wholesale pricing, would require a substantial overhaul of regulations, contracts and systems and have significant commercial implications for developers.”
Cornwall believe Labour must act on these detailed matters otherwise their big plans and promises will falter.
“These decisions cannot simply be pushed back, without jeopardising Clean Power 2030 ambitions and ultimately value for money for billpayers. The Government must act swiftly and decisively.
Without the necessary regulatory and policy clarity, Clean Power 2030 will be an increasingly unrealistic goal and the sector may face the consequences of a rushed, legislative fix that could further undermine progress.”
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