The government estimated in its 2021 Net Zero Strategy that £280 to £400 billion of public and private investment in new generating capacity would be needed by 2037 to decarbonise the power sector. These costs represent the construction costs for power generation only, and do not include the costs for all aspects of decarbonising the power sector, such as network construction or research and innovation on technologies.25 Private investment will be a major contributor to the financial capital ...

The government estimated in its 2021 Net Zero Strategy that £280 to £400 billion of public and private investment in new generating capacity would be needed by 2037 to decarbonise the power sector. These costs represent the construction costs for power generation only, and do not include the costs for all aspects of decarbonising the power sector, such as network construction or research and innovation on technologies.25 Private investment will be a major contributor to the financial capital required to decarbonise.26 A clear delivery plan could increase the confidence of investors to fund new infrastructure, which could reduce their costs of Type: conclusion | Number: 9 | Response status: accepted Government response: 3.1 The government agrees with the Committee’s recommendation. Target implementation date: December 2023 3.2 The department recognises the importance of giving clarity to the private sector to encourage investment. Earlier this year the government published Mobilising