Mar 4, 2018
UK energy grid warns that political risks threaten investment
Foreign investment needed to modernise Britain's ageing energy infrastructure is threatened by rising political and regulatory risks, industry leaders have warned. The chief executive of National Grid, which manages the country's electricity and gas infrastructure, said US investors in particular were concerned about a cocktail of uncertainties including Brexit, government intervention in energy pricing and the Labour party's renationalisation plans. "It is important that the UK is seen as a place that is attractive to inward investment. In terms of the energy sector, a lot of infrastructure needs to be built in the UK over the next few years. Post-Brexit, it is important that it is coming in." Some of the world's biggest and most high-profile investors are active in the UK energy sector, including multi-billionaires Warren Buffett and Li Ka-shing. Tens of billions of pounds of investment is needed in UK energy infrastructure over coming years to replace ageing coal and nuclear power plants and to strengthen the electricity grid to cope with growing supplies of clean but volatile renewable energy.
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