EnergyWatch

Hammond poised to halt plans to overhaul UK energy industry

Chancellor of the Exchequer Philip Hammond is blocking a set of government proposals to overhaul the UK energy industry because of the potential spending implications for a new prime minister, people familiar with the matter said.

Photo: Tolga Akmen/AFP / AFP

Chancellor of the Exchequer Philip Hammond is blocking a set of government proposals to overhaul the UK energy industry because of the potential spending implications for a new prime minister, people familiar with the matter said.

The plans are included in a long-awaited energy white paper that the business department has been working on for months, according to the officials, who asked not to be identified because the policies have not been announced. Measures include the way nuclear power plants get funding, boosting technology to capture industrial greenhouse gas emissions for storage, accelerating the decarbonization of the power industry and efforts to make housing more energy efficient.

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