UK Utilities Need 15% Less Spend After Recession

20 July 2009 (Last Updated July 20th, 2009 18:30)

Centrica and other competing UK utilities may need to spend 15% less on energy infrastructure through 2025 than previous estimates after the recession cut demand, according to accountants Ernst & Young. The most expensive renewable power projects won’t be necessary for Britain to meet emissi

Centrica and other competing UK utilities may need to spend 15% less on energy infrastructure through 2025 than previous estimates after the recession cut demand, according to accountants Ernst & Young.

The most expensive renewable power projects won’t be necessary for Britain to meet emission-reduction and alternative energy targets, provided demand is kept below a business-as-usual scenario, according to the report.

That would cut 35 billion pounds ($58 billion) from investment requirements, it said in a report today that was commissioned by Windsor, England-based Centrica, writes Bloomberg.

Last week the British Government set out a nationwide plan to cut carbon emissions by 18% between now and 2020, including an increase in wind and wave power production.