Declining energy equity score pushes UK down to AAB rating in World Energy Council index

10 November 2015 (Last Updated November 10th, 2015 18:30)

Downgrade in UK's energy equity score has affected its balance score, bringing it down from AAA rating to AAB under World Energy Council's annual Energy Trilemma Index.

Downgrade in UK’s energy equity score has affected its balance score, bringing it down from AAA rating to AAB under World Energy Council’s annual Energy Trilemma Index.

However, the UK has retained its overall fourth position in the fifth edition of the World Energy Council’s annual ranking of energy and climate policies.

The index evaluates 130 countries and takes into account the overall improvements across three dimensions of the energy trilemma, such as energy security, energy equity and energy sustainability.

Energy equity score is a measure of the accessibility and affordability of energy across the population, which has declined for the UK owing to the comparative rise in power prices.

"More transparency is needed about the future approach to contracts for difference and the levy control framework."

The country has maintained a stable energy security score, but still remains on the negative watch list of the World Energy Council due to potential challenges for future energy supply.

World Energy Trilemma study executive chairman Joan MacNaughton said: "If the UK is to remain ahead of the pack, and regain its ‘triple A’ positioning, the government must give more predictability to investors in the way the electricity market reforms are progressed.

"More transparency is needed about the future approach to contracts for difference and the levy control framework."

The country, however, is on track for its decarbonisation and renewables targets, and remains one of the leaders among European countries on the energy trilemma.