Energy secretary Chris Huhne, in this government’s first annual energy statement, spelt out today how he thinks the low carbon economy will pan out over the next few years. Perhaps the most significant phrase for business in his statement is this:
Like the other industrial revolutions, the low-carbon revolution will be driven by entrepreneurs, the private sector, local communities, individuals, businesses, scientists and engineers – not by government.
Nevertheless Huhne acknowledges that government has a role to play:
However, industry needs stable policy and functioning markets. The role of government is to provide the policy framework and to act as a catalyst for private sector investment… we need to apply those principles to the challenge of changing fundamentally the way we produce and consume energy.