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The Low Carbon Economy Ltd

23 Apr 2009 05:04:06

UK Budget receives mixed reception

UK Budget receives mixed reception
The chancellor's 2009 Budget has provoked a wide range of responses from renewable energy groups since it was announced yesterday (April 22nd).

Pledges to support low carbon projects with £1.4 billion of direct investment and to secure £4 billion of finance for renewable energy initiatives from the European Investment Bank were welcomed by many organisations.

The Renewable Energy Association praised the "green lining" to the Budget, with director general Philip Wolfe adding: "We are glad the government has sought to respond to areas we identified as critical."

However, the organisation expressed disappointment that Lord Stern's call for 20 percent of stimulus packages to focus on green investment was not met.

It also warned that the UK continues to provide "substantially less" funding to sustainable energy during the downturn than other nations.

The Environmental Industries Commission, an association of green technology and services firms, suggested that the extra £1.4 billion of funding for low carbon initiatives "is timid and inadequate - and puts the UK at a competitive disadvantage".

However, support was forthcoming from the British Wind Energy Association (BWEA), which backed proposals for a temporary increase in the Renewable Obligation for offshore wind projects and provision of up to £525 million for the sector.

BWEA chairman Adam Bruce said that the package deserved support from the industry for addressing some of the "short-term" economic hurdles currently being faced by low carbon companies.

"It also restates the government's long-term commitment to the renewable energy sector and should enable us to unlock up to £10 billion of private sector investment in wind and marine energy projects over the coming few years," he added.



Discussion Thread  

24 Apr 2009

Over recent months, there's been a lot of media focus on the energy industry. The brighter energy debate aims to explain the complexities of the industry and address the issues that affect us all - from energy bills to energy efficiency.
npower has taken an interesting, interactive approach to discussing energy matters and many videos on important topics are planned for release this year.
Each video is an interview with npower CEO Kevin Miles conducted by the news reporter Peter Snow:

Discussion Thread  


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