12
Inconsistent government energy policy undermines investor confidence and hinders decarbonisation progress
Conclusion
More generally, changes in policy direction can affect investor confidence in government.36 Energy policy instability, such as the stop-start nature of some initiatives like the Green Homes Grant Voucher Scheme, which was extended and then abruptly closed, have eroded investor confidence in government.37 In March 2022 we highlighted that, in this Committee’s recent reports into Achieving Net Zero (HC 935), Environmental tax measures (HC 937), Low emission cars (HC 186) and the Green Homes Grant Voucher Scheme (HC 635), government has too often pursued stop-start strategies which undermine confidence for business, investors and consumers.38 30 Q 32 31 Qq 39–40 32 Q 59 33 Q 57–8 34 DPS0018 35 HC Committee of Public Accounts, Carbon Capture and Storage, Sixty-fourth Report of Session 2016–17, HC 1036, April 2017 36 C&AG’s Report, para 11 37 Qq 34, 88; HC Committee of Public Accounts, Green Homes Grant Voucher Scheme, Twenty-Seventh Report of Session 2021–22, HC 635, December 2021 38 HC Committee of Public Accounts, Achieving Net Zero: Follow up; Forty-First Report of Session 2021–22, HC 642, March 2022 12 Decarbonising the power sector Government collaborating to achieve its ambition
Government Response
A response document is linked to this report, dated 24 September 2023. Response attribution to this conclusion has not been verified. Read the response document.
Source
Committee
Public Accounts Committee
Inquiry
Decarbonising the power sector
Report
Fifty-Ninth Report - Decarbonising the power sector
21 Jun 2023
HC 1003
Addressee Bodies
HM Treasury
Timeline
Recommendation age
3.2 yrs
Report published
21 Jun 2023