Oct 30th 2012
Cable talks up the role of energy intensive industry in low-carbon economy
Energy intensive industries (EIIs) have a "big role" to play in the low-carbon transition, business secretary Vince Cable said in The Telegraph on Monday 29 October. Cable argued the extent of EIIs' energy costs meant the sector had been a leader in energy efficiency for years, and would continue to develop many of the components necessary for green technologies. He also assured the government was focused on supporting EIIs in meeting the future costs of energy and climate change policies, which will add an estimated 28% to their electricity costs by 2020. The government's proposed compensation mechanism for the EU Emissions Trading System and the Carbon Price Floor showed it was attempting to "rebalance" the economy towards manufacturers and to regions outside the south east of England, Cable argued.
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