DECC seeks views on regulatory framework and innovation
UK’s Department of Energy and Climate Change (DECC) is seeking comments on effectiveness of current regulatory framework in enabling innovation.
DECC’s ‘Consultation to ensure regulation in the energy sector encourages innovation’, launched today, invites stakeholders to offer their views on how the regulatory activities interact with innovation in the energy sector in the form of emerging technologies and new business models.
The consultation focuses on the activities of DECC and the Oil and Gas Authority, with other energy sector regulators undertaking parallel engagement exercises.
“Innovation has the power to transform the energy sector and the way we live every day. We are committed to cutting red tape and creating industry environments that foster new ideas and give technologies a commercial edge. Collaboration is key and I look forward to hearing the ideas from industry so we can ensure an innovative energy sector that works for hardworking families and businesses,” said Lord Nicholas Bourne.
The consultation closes on February 11, 2016.
DECC and regulators will consider stakeholder responses to develop a final Innovation Plan that will be published in spring 2016. This will include an account of how DECC and regulators are working to adapt regulation and enforcement to support innovative technologies and business models.