Energy UK responds to the Daily Telegraph's article on Labour's energy renationalisation paper
Responding to the Daily Telegraph's article today on Labour's energy policy paper on renationalisation, Energy UK's chief executive Lawrence Slade said:
“Private investment in energy - which is £12.6bn each year and 10% of total UK investment, has revolutionised the energy industry. It has created a power sector that has been world-leading in decarbonisation while creating green jobs, boosting economic growth and delivering increased choice and better service for customers.
“Since privatisation in the early 1990s, the sector has already invested over £170bn to radically transform itself and over the next decade billions more investment is needed if we are to continue to upgrade our energy infrastructure to deliver benefits for customers and keep us on the path to a net zero economy. Any unnecessary, complex restructure or move to state ownership would jeopardise this investment at a critical time for the UK’s energy transition.”