Ministers, MPs, and party members gathered in Manchester for the Conservative Party Conference last week. A recurring theme at this year’s event was energy and, with a focus on the UK’s leading role in the sector, there are exciting developments in the pipeline which make this a potential watershed period for the industry.
With the UK at the forefront of the sector on clean growth, new nuclear, battery technology, and smart meters, a number of energy sources and innovations were discussed at the conference. As the offshore wind and gas sectors evolve as noteworthy energy sources in post-Brexit Britain, small-scale nuclear reactors were a keen talking point, with potential to reduce costs by up to a fifth. In addition to this, digitisation was highlighted for its potential to assist with decarbonisation and boost efficiency. As digitization is very much in its fledgling stages of development, there are interesting times ahead for the use of smart data within the industry.
Energy Minister, Claire Perry, spoke about industrial strategy linking business and government to facilitate growth. Through effective assessment of conditions and development of strategy for businesses and government, an integrated approach will aid in the evolution of the industry. In a statement that has been met with mixed sentiment, Theresa May announced that a draft bill introducing price caps on energy bills will be introduced to fix what she termed “the UK’s broken energy market” – a move that is in line with the party’s manifesto. The draft legislation will be released this week.
Smarter Business is on constant lookout for industry news which will affect your energy bills. If you are looking to compare quotes, switch providers, or come up with an energy management strategy for your business, contact us today to discuss your energy needs.