Members of the Energy Institute have warned that potential investment is being lost as a result of uncertainty over government energy policy. In a new report, which was based on a survey of over 400 of its members, they argue that regular changes to energy policy are potentially putting off investors.

The report raised several concerns, including a lack of investment, the current low price of oil and a transition to low carbon energy systems. Some of the most serious concerns were around areas such as:

• Carbon Capturing: This was one of members biggest concerns. The Prime Minister, David Cameron, has previously described the technology as “vital”, but has subsequently withdrawn funding for it.
• EU Referendum: The Institute's members have expressed concerns that, should the UK choose withdraw from the European Union in the upcoming referendum, it could cause problems with energy supplies, the use of renewable technologies, climate change and air quality.
• Greenhouse Gas Emissions: Members of the Institute raise concerns over the UK and other countries ability to stick to promises made to reduce greenhouse gas emission and protect the global climate.

Speaking to BBC News, Professor Jim Skea, President of the Energy Institute, said:

“The single biggest wish for people working in UK energy is stable government policy that helps them decide where to invest profitably. Renewable energy and capturing carbon - key to implementing the Paris climate agreement - are seen to have been particularly badly hit by policy changes over the last year.”

In response a spokesman for the government said:

“We are giving investors the certainty they need to come to the UK with our long-term plan for a secure, affordable and clean energy system fit for the 21st century. We’re doing this in a way that will meet our climate change commitments in the most cost-effective way, and have already reduced our emissions by over 30% since 1990.”

With concerns that the UK will fall behind the targets set in order to reduce carbon emissions by 2050, it is expected that the government will now bring forward plans which would outline how it expects to meet those targets.