BEAMA Policy Paper - Tackling the energy trilemma – decarbonisation, energy security, affordability
22 March 2023
Why the UK urgently needs correct price signals and tariffs supported by clear long-term strategy to promote electrification at scale, deliver on its Net Zero commitment, make consumer bills more affordable, and remain globally competitive.
Summary
- The UK has the ambition of being a global leader in the race to Net Zero, however, in many sectors actual delivery to date has been poor.
- Electrification based on increasingly green generation has huge potential, but the current policy framework and market conditions are not promoting mass deployment of low carbon technologies.
- A ‘reshaping’ of electricity costs urgently needs to happen to ensure that electric solutions are more economical to run than fossil fuel alternatives.
- Multi-rate tariffs which exist today need to be reviewed so that vulnerable consumers are fairly protected under the price cap and rewarded for off-peak use today.
- Dynamic tariffs need to be developed to encourage deployment of smart electric technologies which are the foundations of the flexible and secure energy system of the future.
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[1] Current programmes will not deliver by CCC 2 No One Will Be Left Behind On The Road To Net Zero: Low Carbon Heat By Design report by BEAMA
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