Policy and Politics Affecting U.K. Renewable Energy

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Feb. 26 (Bloomberg) -- Ben Warren, Environmental Finance Leader at Ernst & Young, discusses why the U.K. lags behind others when it comes to renewable energy. He speaks on Bloomberg Television’s “The Pulse.” (Source: Bloomberg)

To the fourth spot globally for some time, propped up by a promising wind sector.

We can't any longer ignore the policy and politics that seem to be affecting the u.k. rinne levels sector.

What we are looking at is stagnation.

Is this cyclical?

I don't think it is somewhat cyclical, it is the u.k. policy centers trying to grapple with the role that the renewables has to play.

There does seem to be increasing concern among politicians that we have pushed renewable too far, that the impact on bills is too great.

The u.s. is taking advantage of shale and low energy cost.

Does europe need to be more competitive?

Policy centers not just in the u.k. but across the globe are zoning in on value for money and affordability.

What can we get out of our investment in renewables?

We are seeing very different things across the globe.

In emerging markets, renewables is playing a fundamental role.

In more mature markets, renewables focuses on price.

To what extent -- one of the things that we see in this industry is the need for clarity.

If i am making an investment for a long time, policy can't be changed every six months.

To what extent our policymakers in the u.k. and elsewhere flip-flopping on this issue too much?

It is a real issue.

Maybe if you we bring that back home, at the moment, for developers of new projects, they don't know what regime they're going to qualify under.

They don't know what value they are going to be producing.

They don't even know now whether they are going to qualify for a contract or not.

That is the challenge -- if there was more clarity, how would it change the impact?

We could look to another market, probably japan is a good example.

It is zooming its way up the index.

They did have a nuclear accident.

And in that market, you don't see businesses and japanese people complaining about renewable energy developing.

The technology has been embraced.

It is a very clear regime for investment.

We are seeing billions of dollars worth of investment and rental bowls in japan.

Thank you very much indeed.

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