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 princess and the PR: Meghan Markle's image problem
Talking Point A tough week for the Sussexes has seen a familiar tale of vitriol and invective thrown the way of the actor-cum-duchess
By Jamie Timson, The Week UK Published
-
Cuba's mercenaries fighting against Ukraine
The Explainer Young men lured by high salaries and Russian citizenship to enlist for a year are now trapped on front lines of war indefinitely
By Harriet Marsden, The Week UK Published
-
Living the 'pura vida' in Costa Rica
The Week Recommends From thick, tangled rainforest and active volcanoes to monkeys, coatis and tapirs, this is a country with plenty to discover
By Dominic Kocur Published
-
'The proudly backward were validated by self-loathing Western intellectuals'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US Published
-
New Year's Honours: why the controversy?
Today's Big Question London Mayor Sadiq Khan and England men's football manager Gareth Southgate have both received a knighthood despite debatable records
By Harriet Marsden, The Week UK Published
-
Is there a Christmas curse on Downing Street?
Today's Big Question Keir Starmer could follow a long line of prime ministers forced to swap festive cheer for the dreaded Christmas crisis
By The Week UK Published
-
John Prescott: was he Labour's last link to the working class?
Today's Big Quesiton 'A total one-off': tributes have poured in for the former deputy PM and trade unionist
By Harriet Marsden, The Week UK Published
-
Last hopes for justice for UK's nuclear test veterans
Under the Radar Thousands of ex-service personnel say their lives have been blighted by aggressive cancers and genetic mutations
By Sorcha Bradley, The Week UK Published
-
Will Donald Trump wreck the Brexit deal?
Today's Big Question President-elect's victory could help UK's reset with the EU, but a free-trade agreement with the US to dodge his threatened tariffs could hinder it
By Harriet Marsden, The Week UK Published
-
What is the next Tory leader up against?
Today's Big Question Kemi Badenoch or Robert Jenrick will have to unify warring factions and win back disillusioned voters – without alienating the centre ground
By Harriet Marsden, The Week UK 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