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IUK to tackle energy capacity needs

Work undertaken by the Treasury and Department for Energy and Climate Change’s (DECC) will be a model for the future work of Infrastructure UK.

The two departments are carrying out an energy market assessment of investment capacity in the energy market. Conclusions will be published in the next Budget.

Pearson said there was more to be done before the UK markets can handle the massive funds needed to finance new nuclear and the third round of offshore wind.

“Energy is 50% of [infrastructure] spend going forward. Are we going to get stuck in? Yes, but we will bring specialist skills to that. One of the specialist skills is finance.

“We have to make sure that the environment is right so that the private sector can make these types of investment with confidence,” he said, adding that any new government needs to make sure the balance between private and public spending is right.

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