Welcoming the Energy Act 2010 Director General Tom Foulkes said:
“Historically, the UK’s energy regulatory model has failed to reflect the changing demands on the sector, in particular the need to move to a decarbonised energy supply. Ofgem’s revised remit will hopefully give utility owners new confidence to invest in renewable and clean energy technologies, as will the new financial incentives for the development of carbon capture and storage (CCS).
“However we really need to look beyond the CCS demonstrations projects. While reliance on carbon fuels is still a global reality, upscaling CCS technology for commercial deployment could be a very lucrative export opportunity for the UK economy.”