Overview

This bill mandates the creation of a national strategy for cost-effective and efficient energy use in the UK. The strategy aims to meet carbon reduction targets, ensure energy security, and tackle fuel poverty, all while prioritizing cost-effectiveness and promoting energy efficiency.

Description

The Secretary of State is required to develop and publish a national strategy within 12 months of the Act's passing. This strategy must detail measures to:

• Achieve the 2050 carbon target set by the Climate Change Act 2008.
• Meet carbon budgets under the Climate Change Act 2008.
• Enhance energy security.
• Eliminate fuel poverty.

The strategy's measures must be cost-effective, promote energy efficiency and demand management, increase energy production in and from buildings, and boost energy production by community schemes. Before developing the strategy, the Secretary of State must analyze the cost-effectiveness and economic impact (both short-term and long-term) of potential measures. Consultation with relevant organizations and individuals is also mandated. Finally, a scheme to implement the strategy must be introduced within six months of the report’s publication.

Government Spending

The bill doesn't specify exact figures for government spending. However, implementing the strategy will likely involve significant government investment in various energy efficiency and renewable energy programs. The cost-benefit analysis required by the bill should inform resource allocation, aiming for cost-effectiveness.

Groups Affected

The bill will affect numerous groups, including:

• Energy Consumers: Potentially lower energy bills through efficiency improvements, but possibly also increased costs associated with new policies or technologies.
• Energy Producers: Changes in energy production and distribution could impact profitability and investment decisions. Community energy schemes could benefit from increased support.
• Government: Significant financial implications through the implementation of the strategy.
• Environmental Groups: Potential positive impact from increased focus on carbon reduction and renewable energy.
• Individuals and Households experiencing Fuel Poverty: Potentially significant benefit from targeted measures to eliminate fuel poverty.

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