King's Speech: Policy needs to go further to ensure UK energy security, says RSM UK

Sheena McGuinness, head of renewables and cleantech at RSM UK reacts to the King’s Speech: 'Establishing GB Energy to help stimulate clean energy generation, create new jobs and shore up our supply chain is an ambitious move. Our energy transition won’t happen overnight and our future energy policy needs to consider all aspects of the complex landscape to get it right. Embedding the right mix of power generation, infrastructure and skills to deliver on the promise of lower energy bills, high paid jobs while tackling the climate crisis, will all take time and investment.

'The UK needs to compete globally and develop a more favourable system for energy companies to do business here – whether its planning reform to get projects started, tax incentives to encourage investment or visa reforms to tackle the skills gap. One key missing piece of the puzzle is infrastructure. If renewable projects get the green light, significant delays in connection to national grid can derail deals as the timeframes are currently not viable.

'Without addressing these issues, moving away from hydrocarbon will leave an "energy void" which will need to be filled by increasing our imported energy, which currently comprises about 20% of the grid supply. This will leave the UK vulnerable to volatility, and take us further away from energy security as we transition across.

'What is crucially missing at this point is a comprehensive industrial strategy that sets out key energy sources, investment and business support, such as R&D and tax incentives, that will accelerate progress and underpin real change.'