Why Liz Truss may abandon Boris Johnson’s energy overhaul
Officials reportedly told to pause plans to shake up energy markets through new legislation
The prime minister is preparing to ditch or pause work on her predecessor’s Energy Bill in order to focus on driving down UK households’ energy costs, sources claim.
According to the i news site, “multiple” sources said that Liz Truss’s new secretary of state for business, energy and industrial strategy, Jacob Rees-Mogg, had “told officials on Monday that he planned to effectively put on hold the Energy Bill, currently going through the House of Lords”.
The wide-ranging legislation “centres on both the desire to achieve net-zero by 2050 and the need to completely remove any need for Russian gas and oil, following its invasion of Ukraine”, reported ITV News after Boris Johnson announced the bill during his Queen’s Speech in May.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The then-PM said the bill would “accelerate our transition to more secure, more affordable and cleaner home-grown energy supplies”.
The legislation “would have overhauled everything from carbon dioxide transport to carbon capture and civil nuclear power production”, said the i site.
But Downing Street has stressed that Truss wants to prioritise capping energy bills and reforming electricity markets. The new PM is reportedly “pushing for two big reforms”: decoupling electricity prices from the global gas price, and a move to “locational pricing” to incentivise the private sector to build extra capacity.
Abandoning parts of the Energy Bill may also mean “ditching a landmark reform”, the site added. In his Queen’s Speech, Johnson said that a “future systems operator” arm of the National Grid would be created to “drive progress towards net zero” and “energy security”.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
The World of Tim Burton: a 'creepy, witty and visually ravishing' exhibition
The Week Recommends Sprawling show at the Design Museum features over 600 exhibits from across the directors' five-decade career from early sketches to costumes and props
By Irenie Forshaw, The Week UK Published
-
Crossword: October 31, 2024
The Week's daily crossword
By The Week Staff Published
-
Sudoku hard: October 31, 2024
The Week's daily hard sudoku puzzle
By The Week Staff Published
-
'We shouldn't be surprised that crypto is back'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US Published
-
IPPs: the prisoners serving never-ending jail sentences
The Explainer Sentences of 'imprisonment for public protection' (IPPs) have been widely condemned, but many are still in force
By The Week UK Published
-
What is Lammy hoping to achieve in China?
Today's Big Question Foreign secretary heads to Beijing as Labour seeks cooperation on global challenges and courts opportunities for trade and investment
By Harriet Marsden, The Week UK Published
-
Is Britain about to 'boil over'?
Today's Big Question A message shared across far-right groups listed more than 30 potential targets for violence in the UK today
By Sorcha Bradley, The Week UK Published
-
UK's Starmer slams 'far-right thuggery' at riots
Speed Read The anti-immigrant violence was spurred by false rumors that the suspect in the Southport knife attack was an immigrant
By Peter Weber, The Week US Published
-
How could J.D. Vance impact the special relationship?
Today's Big Question Trump's hawkish pick for VP said UK is the first 'truly Islamist country' with a nuclear weapon
By Harriet Marsden, The Week UK Published
-
The Tamils stranded on 'secretive' British island in Indian Ocean
Under the Radar Migrants 'unlawfully detained' since 2021 shipwreck on UK-controlled Diego Garcia, site of important US military base
By Harriet Marsden, The Week UK Published
-
Britain's Labour Party wins in a landslide
Speed Read The Conservatives were unseated after 14 years of rule
By Peter Weber, The Week US Published