Dr Tony Whitehead, Director of Policy at the Institution of Engineering and Technology (IET), said:
“The large investment and long timescales involved in all types of energy generation need consistent, long-term energy policies. Short-term uncertainty around UK energy policy, as we have seen in the last couple of days, is very unhelpful and has the potential to result in increased prices for consumers and delay much-needed investment in all forms of energy infrastructure. It can also stop investment in new UK jobs.
“Uncertainty over policy toward one energy source implies uncertainty for all sources. Remarks about wind power also affect gas, nuclear and other investments.
“The UK has the world’s largest offshore wind industry and there is huge potential in terms of investment and future jobs. Several international companies planning investments in the UK recently wrote to the Energy Secretary expressing concern over the emergence of political risk in the UK which has traditionally been regarded as having a low risk for energy investment.
“Inconsistent comments from different quarters of the Government could be very damaging and affect confidence in the market, just at the time investment decisions are about to be made, potentially driving investment and jobs overseas.”
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The Institution of Engineering and Technology
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