Who Will Now Invest £100 Billion to Keep Britain's Lights On?
- Government needs investment to replace aging generators
- Wind farm developer Vattenfall reconsiders risk of U.K. work
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As if managing the Brexit crisis weren’t enough, the U.K. government also needs to find 100 billion pounds ($132 billion) to keep the lights on nationwide after 2020.
With more than a dozen power plants due to close in the next decade, Prime Minister David Cameron’s government has been working to lay out incentives that will draw in money for new electricity infrastructure. Finding that investment will be made more difficult by voters’ decision to leave the European Union, said Fatih Birol, executive director of the International Energy Agency.