George Osborne did not spend much time talking about the energy industry today, but the spending review contained some important new figures and policies. Here, then is the spending review – as far as it effects the energy industry – in numbers.
The amount to be spent on the UK’s CCS demonstration.
To be spent on developing new green technology, including offshore wind and developing port infrastructure.
To be spent on funding the green investment bank.
Average yearly fall in the DECC budget.
Average yearly fall in the Defra budget.
The amount being spent on the renewable heat incentive over the next four years.
The fall in feed-in tariffs planned for 2012 – the same as planned by the previous government.