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It’s never wise to make predictions (just ask Jeremy Corbyn), but as a new decade dawns for utilities, it’s safe to view this week as the calm before the storm.
As the country grinds back into action following an exhausting year of Westminster bloodletting and policy paralysis, there is much to be done to redress the inertia.
The government should know industry is desperate to push on with a vast to-do list, from meeting constantly evolving customer demand and tackling net zero to consolidating long-term business plans.
And sector interest will reach fever pitch come the government’s spring Budget and release of the National Infrastructure Strategy.
Our analysis looks in detail at the key issues for 2020 – a year in which we’re likely to see a new Department of Energy and Climate Change rise from the ashes if, as reported, the PM creates a new “super-business” ministry.
As well as an overhaul of Whitehall, a cabinet clearout is on the cards as the now majority government adjusts its focus.
And with the environment set to be prioritised in the Budget, following December’s Queen’s Speech, we could see fresh investment in carbon capture and storage, and nuclear energy.
The election result and Labour leadership turmoil may have quelled the renationalisation noise for now, but a predictive piece from the Energy Ombudsman also points out how securing more public trust and confidence will be the number one test for utilities in 2020.
What can be in no doubt is that this coming year will see some huge tests for a fast-transitioning sector.
We can expect more distributed generation, and therefore further debate over its potential impact on the grid – heightened by this week’s verdict on August’s shock blackout.
People power is likely to build as more consumers take control of their energy decisions. Pressure on water companies will rise as PR19 progresses, sustainability concerns continue, and extreme weather events persist. And the industry will continue to witness the relentless escalation of data capital.
Such change will require nimble regulation and fairer systems if everyone is to share in the opportunities the new year brings. And there will need to be greater support for innovation if we are to meet the challenges this game-changing decade creates.
All this, and Britain exits the EU in three weeks’ time.
Enjoy the peace while you can.
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