Commenting on the UK energy strategy, Simonetta Spavieri, Senior Engagement Analyst at Royal London Asset Management (RLAM) said:
“RLAM welcomes the ambition to further decarbonise the UK’s electricity by 2030, however we expected more focus on delivering the multiple strategies and ambitions for a low carbon energy system.
“Notably, crucial funding for energy efficiency is still lacking. The UK urgently needs a short-term emergency energy plan to fight the current gas price crisis, as well as a long term strategy. The heat pump funding promise does not go far enough and will take too long to tackle the current crisis and urgency to reduce dependency on gas.
“Reopening the focus on North Sea oil supplies and fracking gas doesn’t alleviate short-term lack of supply and does not fit in with the government’s Net Zero aims.
The views expressed are those of the author at the date of publication unless otherwise indicated, which are subject to change, and is not investment advice.