King’s Speech plans to tackle climate crisis welcomed
It is good that the new government has recognised the urgency of the global climate challenge and is prepared to act, said Midlands green energy expert Ron Fox.
He was commenting on last week’s King’ Speech to Parliament in which a raft of more than 35 new bills were promised, four of which would boost investment in the green economy.
King Charles promised his Labour government would focus on green energy, wind power, sustainable aviation fuels and water pollution.
Firstly, the Great British Energy Bill which will set up Great British Energy (GBE), a new, publicly-owned energy production company which will have its headquarters in Scotland. This organisation will develop, own and operate clean power projects, and will invest in partnership with the private sector.
The GBE is the flagship of the Labour government’s net zero agenda which is intended to help deliver energy security, cheaper energy, and create new jobs, as well as achieving the government’s mission to have clean power by 2030.
£8.3 billion has been allocated for the GBE, which will be funded mainly through an enhanced windfall tax on North Sea oil and gas.
“The UK is over-reliant on fossil fuels, energy bills remain high and people need help to engage with net zero, so this is a sensible move,” said Ron, of Noreus Ltd on the University of Keele Science and Innovation Park.
Secondly, The Crown Estate Bill, which will enable the owner of the seabed to have the power to borrow and unlock significant investment in offshore wind investment. The Crown Estate, which funds the royal family, owns the seabed around the UK and holds regular auction sites for offshore wind sites.
The Labour government have said they want to double onshore wind, triple solar power, and quadruple offshore wind by 2030. Granting the Crown Estate borrowing powers is expected to bring forward 20-30 gigawatt of new offshore wind seabed leases by 2030 to help the UK become a “clean energy superpower” and have a zero-carbon electricity system by 2030.
Thirdly, The Sustainable Fuel (Revenue Support Mechanism) Bill will support sustainable aviation fuel (SAF) production to help decarbonise air travel.
The Bill will require suppliers of SAF to have at least 10 per cent SAF in their fuel mix supplied to airlines. The government hopes the Bill will increase the number of plants being built in the UK which will secure a supply of SAF for the aviation industry.
Fourthly, The Water (Special Measures) Bill will give the regulator, Ofwat, increased powers to ensure bosses face personal criminal liability for breaches of the law and that they install monitors at every sewage outlet. The government has said that this Bill is just a first step and that it plans to introduce separate legislation at a later stage to restore our rivers, lakes and seas to good health.
“All we need now is to see that all this ambition is turned quickly into action,” concluded Ron.
For more details on cheaper green energy call him on 0845 474 6641 or go to www.noreus.co.uk
Caption: Charles III sets out the new Labour Government plans in the King’s Speech last week. Picture: Gov.uk
