The trade association for energy infrastructure & systems

In response to Nesta and Baringa’s report published yesterday - The role of the state in the GB energy market - Yselkla Farmer, CEO of BEAMA commented

“Accelerating decarbonisation of the UK is one of the biggest economic opportunities of our generation and this report could not have been clearer in stating that we need to pick up the pace. The UK energy system needs unprecedented levels of investment and supply chain growth to meet targets for Net Zero and clean power, so the £35 billion savings for energy consumers by 2050 is welcomed to ensure we deliver in a way that manages the cost of energy for homes and businesses. Managing this efficiently will be a vital role for GB Energy.

“BEAMA’s research with the Energy Systems Catapult has shown that investment pre-2035 in our power grid will ensure a least cost approach to 2050. What we need is market stability, certainty and speed, coupled with an ongoing commitment to deliver flexibility market frameworks which will help drive inward investment into the supply chain and transform our energy market into a zero carbon, more affordable opportunity. The UK electrical supply chain alone is a £14 trillion global sector poised to deliver high-skilled, high-paying jobs and sustained economic growth. We look forward to supporting the government's reforms to the UK energy system through GB Energy and bodies such as the industrial strategy council and transmission accelerator.”