Energy industry stakeholders have stated that a lack of direction is costing the industry investment and also resulting in lost opportunities. The Government has said that they will address this and consult with experts from within the industry.
At the beginning of March the Government released a report outlining plans to cut £10 billion worth of ‘red tape’. This included abandoning a number of rules and pieces of legislation which they believe will increase the number of jobs and the productivity within the industry. The report had found that a number of different policies which overlapped each other requested the same data from businesses. Also schemes such as the CRC Energy Efficiency Scheme and the Energy Saving Opportunities Scheme were costing businesses too much time and money.
The new plan has came under scrutiny by some industry experts however, who claim that it does not distinguish between the extremely competitive business energy market and the much less competitive domestic market.
Overall the report states that future energy policies need to be a lot more transparent with the industry and require more input from experts within the industry. It is believed that the cutting of this ‘red tape’ will create an environment that small and medium sized businesses can thrive in and also help larger companies grow.