The government has confirmed energy expert Professor Dieter Helm will lead an independent review into the cost of energy.
Helm has been tasked with looking at how the energy industry, government, and regulators can keep the cost of electricity as low as possible while ensuring the UK meets both its domestic and international climate targets.
The government said its ambition is for the UK to have the lowest energy costs in Europe, for both businesses and households. Helm said he will seek to “sort out the facts from the myths” when it comes to the cost of energy, adding how the cost of energy mattered to companies and households “especially now” with huge investment requirements to meet decarbonisation and security challenges over the next decade and beyond.
Helm said: “Digitalisation, electric transport and smart and decentralised systems offer great opportunities. It is imperative to do all this efficiently, to minimise the burdens. Making people and companies pay excessively for policy and market inefficiencies risks undermining the objectives themselves.”
The review is expected to report in late October 2017.