Following this year’s General Election, The Conservative Party is returning to Downing Street. But what does that mean for energy over the next five years?
The Conservative Party is promising to decrease dependency in foreign energy sources by helping to deliver secure, affordable and low-carbon energy.
As part of their manifesto, The Conservatives have said every home and business in the country will have a Smart Meter by 2020, which will be delivered as cost-effectively as possible. The party is also promising to continue to make it easier for customers to switch to better deals, having already limited each supplier to four tariffs and cutting switching times in half.
A continued support of the energy sector has also been discussed, having increased the number of independent energy suppliers from seven to 21 in their previous tenancy. Also promised is continued North Sea development and the ‘safe development’ of shale gas, as well as the creation of a Sovereign Wealth Fund for the North of England.
The Party is promising new renewable technologies and start-up funding, with significant support reserved for those that ‘clearly represent value for money.’ Their energy policies also promise to move towards zero emission vehicles and introduce superfast broadband to 95% of the UK.
New appointments include Amber Rudd as the new Energy Secretary. Since her appointment Rudd has indicated she would back the continued expansion of household solar panels. Andrea Leadsom is appointed as the Minister of State for Energy, focusing on energy security, oil and gas policy including shale gas, carbon capture and storage,Â nuclear, renewables and international energy. Lord Bourne is the Parliamentary Under Secretary of State, and as part of his new role at the Department of Energy and Climate Change (DECC), he will focus on heat including the Renewable Heat Incentive, smart meters, energy efficiency, climate science and innovation.