ANNUAL SUMMER LECTURE:

Energy Policy, Investment and the Consumer

Background: Until the recession, energy policy analysts have been focussed on what became know as the trilemma - achieving an acceptable balance between reducing carbon, energy security and affordability. Arguably, today in 2013, in the 5 years since the start of the downturn, those priorities have changed. The new trilemma is how to match energy policy expectations to realistic investment horizons and investor pockets and not forgetting consumer (un)willingness to foot the bill. In the 2010s, the new concerns are about yet-to-be-proven EMR (Electricity Market Reform), utility investment falling far short of government targets and rising fuel poverty.

Future Energy Strategies is delighted to welcome Angela Knight CBE, Chief Executive of Energy UK to give the Annual FES Summer Lecture around these challenging issues.

About Angela Knight CBE

Before joining Energy UK, Angela was Chief Executive at the BBA for 5 years. Previously she was Chief Executive of the Association of Private Client Investment Managers and Stockbrokers for 9 years. She was honoured with a CBE for services to the financial services industry in 2007.

She was Economic Secretary to the Treasury from 1995- 1997, after being Parliamentary Private Secretary to the Rt Hon Kenneth Clarke MP, Chancellor of the Exchequer, and before that to Industry Minister Sir Tim Sainsbury MP.

She was MP for Erewash from 1992 - 1997. She graduated from Bristol University with a degree in chemistry and worked at Air Products before jointly setting up and running the company Cook & Knight Ltd for 6 years.

About Energy UK

Energy UK is the trade association for the energy industry. Energy UK has over 80 companies as members that together cover the broad range of energy providers and suppliers and include companies of all sizes working in all forms of gas and electricity supply and energy networks. Energy UK members generate more than 90% of UK electricity, provide light and heat to some 26 million homes and last year invested over £10 billion in the British economy.

Background and questions to ponder:

Does government look at utilities too much as a tools of policy rather than companies competing for business and investors capital?

How do investors see utilities and what do they want from them?

How do customers see their utilities and what do they want from them?

How do utilities view government, consumers and investors and has this changed in recent years?

Will EMR deliver adequate levels of investment or build too much complexity into the market?

Does the debt profile of the Big 6 make the large scale investment wanted by the government impossible?

Has the regulatory regime of OFWAT proved superior to OFGEM in controlling costs to consumers and managing investment?

How strong will political support for the utilities be in the face of rising investment bills?

and many more . . . !

Program (all times are close approximates):

4.30 - 5.00 p.m. - Registration, Coffee

5.00 - 5.10 p.m. - Opening Remarks

5.10 - 5.45 p.m. - Angela Knight CBE

5.45 - 6.15 p.m. - Q&A

6.15 - 6.20 p.m. - Closing Remarks

6.20 - 8.00 p.m. - Reception (with alcoholic and non-alcoholic drinks and canapes included)

The Event will be hosted at Allen & Overy as listed above. Please purchase tickets in advance online.