UK Energy and climate change secretary Chris Huhne is calling for a “meaningful price” to be placed on carbon in order to stimulate low carbon investment. – http://tinyurl.com/2bp5udm
Addressing to the UK Energy Summit, Mr Huhne said that the UK has “enormous potential” in terms of renewable energy generation, but barriers must first be removed and incentives applied.
He outlined a “massive challenge” to the UK. £200 billion of funding is needed for energy infrastructure improvements in the next decade.
He called for a high carbon price to “underpin investment.”
“The current price is simply not doing this. It is not yet driving our economy towards the green technologies of the future anywhere near quickly enough.”
Expect the government to set out its plans for “major infrastructure development” sometime soon.
Mr Huhne backs the EU raising emissions targets. Current plans are for a 20 per cent cut by the year 2020. There is growing backing for a 30 per cent figure.