If Britain is to meet its self-imposed carbon-reduction targets it means the end of coal by 2030. Things aren’t looking much brighter for the coalition. The deep fissure between Liberal Democrat-driven green policy and Conservative-driven business policy has become clear at the Spectator Energy Conference today. Ed Davey has bunked off, with his office saying he is in China.
Actually he is preparing for this afternoon’s announcement in the Commons, and energy minister Michael Fallon has been sent instead. Both halves of the coalition have rapidly stitched up a deal to cut energy bills by £50. But the Lib Dems won’t tolerate a reversal of decarbonisation targets. That makes a sensible energy policy impossible. As Peter Atherton of Liberium Capital told the conference meeting the current target of reducing carbon emissions by 60 per cent by 2030 will require between £360 billion and £410 billion of new investment in new generating kit – that is 10 HS2s.
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