By Daniel Hunter
As part of a drive to cut red tape burdens, Minister of State for Energy, Charles Hendry, has announced the scrapping of 86 regulations and a further 48 improved regulatory regimes, whilst keeping protections as strong as ever.
Coupled with other reforms, DECC’s overall reform package is estimated to deliver businesses savings worth around £400 million over the next 20 years.
“Energy is vital to the economy and essential to driving growth. It is also the biggest infrastructure sector in the UK. Our reforms aim to stimulate over £100bn of new investment in the electricity sector and could support around 250,000 total jobs in electricity to 2030," Minister of State for Energy, Charles Hendry, said.
“It is therefore vital that we have a regulatory regime which promotes fairness and consumer and environmental protection, but does not impose unnecessary costs or barriers to generating the necessary investment, innovation and skills we need to build the low carbon economy.
“The Red Tape Challenge has provided the opportunity to ensure we continue to meet these objectives. We have listened to our stakeholders as they suggested regulations which add cost or complexity without effectively leading to protections, and I am pleased to announce that DECC will scrap or improve 134 regulations.”
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