Britain’s energy policy must secure a number of key objectives. We need a secure national supply of energy at a price which serves consumers and our plans for re-shoring and re-industrialisation. At the same time, this must be balanced with our commitments to reduce CO2 emissions to address climate change. The solution to these challenges is to invest and plan for the long term. A greater role for the state is, therefore, required in developing, funding and regulating power generation and distribution.
- The contribution of nuclear energy to Britain’s energy mix will be increased from 20% to 40% by 2035. We will renew our existing nuclear plants and develop new large-scale Generation IV reactors and small modular reactors. Planning rules for the approval of new nuclear facilities will be streamlined.
- We will re-nationalise power supply and distribution via a new body, ‘British Energy’ which will also be responsible for implementing the UK’s energy strategy, and the underwriting and construction of new power generation plants and infrastructure.
- British Energy will develop a regulatory framework to support UK gas fracking and carbon capture and storage subject to adequate environmental assessments, and for so long as natural gas remains a necessary part of our energy fuel mix.
- We support the commitment to phase out petrol and diesel cars and replace them with electric vehicles served by on-road smart-charging which does not add to peak power load.
- We will allocate £3bn for the creation of dedicated lanes for bicycles, speed limited e-scooters, segways and other low-emission vehicles. These will be designed to minimise adverse effects to car traffic flows.
- Expenditure on heat pumps, insulation, household solar panel systems and double/triple glazing by registered suppliers will be tax deductible at the basic rate.
- Research into battery technology, hydrogen, nuclear energy, tidal, and low-energy transport will be supported by £4bn of additional funding.