The UK Government has announced it will implement a heat network regulatory framework to support market growth and ensure customer protection.
The announcement is included in Heat Networks: Ensuring Sustained Investment and Protecting Consumers which was released earlier this week.
The plan to introduce regulation follows and aligns with recommendations made by both the Competition and Markets Authority (CMA) in its Heat Network Market Study, and by industry through the Association for Decentralised Energy’s (ADE’s) Heat Network Industry Task Force.
This regulation will help to improve consumer confidence by guaranteeing customer protection and will help to create a self-sustaining heat market which works for everyone involved. Pinnacle Power looks forward to working the both the ADE and Government to support the creation of a user-led, decentralised energy system, that tackles investment risk and assures customers of the level of service they will receive.
Toby Heysham, Director of Pinnacle Power said:
We welcome the work of the ADE and our peers in the Heat Network Industry who have helped champion the importance of regulation in delivering a sustainable platform from which the industry can grow, attract investors and bring truly low carbon, cheap heat to users.
We are really excited about this development and welcome the regulatory change in this market – benefiting both customers and industry.