Energy regulation reform potential highlighted

Effective reform of energy regulation could unlock huge economic growth potential, according to industry leaders.

Responding to a call from the Prime Minister to regulators, Energy UK has set out key areas of focus for a new regulatory regime for the industry.

The industry body said “rethinking the current regulatory settlement in energy is crucial if we are to truly seize the moment and achieve the Government’s missions”.

It calls for a regulatory landscape that provides greater clarity for industry to invest, minimisation of regulatory costs through greater use of digital tools and a focus on “simplified, proportionate regulation and governance”.

Streamlining the involvement of regulators in the planning process and helping to rationalise and accelerate these connections are also highlighted.