Post Brexit, there has been sudden upheaval and formations in the new government. With the top leader of the conservative party Theresa May becoming the new Prime Minister, axes have been laid on various existing departments. The government says these changes are made to create a more strong government that runs for the common man and not for a few powerful people.
One of the changes that struck us was the dissolving of the department of Business, Innovation and Skills (BIS) to form a new department called Business, Energy and Industrial Strategy (BEIS). Headed by Greg Clark, the department will “get the whole economy firing” as per the new Prime Minister.
Greg Clark expressed his excitement stating that “I am thrilled to have been appointed to lead this new department charged with delivering a comprehensive industrial strategy, leading government’s relationship with business, furthering our world-class science base, delivering affordable, clean energy and tackling climate change.” So, we can expect energy that focuses on lower carbon print.
Four main functions of BEIS are:
To develop a comprehensive industrial strategy and improve government’s relationship with businesses
To ensure that UK remains a country that tackles climatic change through science, research and innovation
To promote competitive markets that focuses on consumer interests
Due to this, we can expect a few changes in the energy rules which may affect the energy market in the long run. Let us hope that all these changes turn out to be positive, as expected and bring in reduction in the energy market.
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