Energy and Environment

Competition should drive European energy transition, not more subsidies


Energy and Environment

Andy Mayer appears on talkTV

Energy and Environment

Andy Mayer quoted in City AM

IEA Chief Operating Officer and Energy Analyst Andy Mayer has been quoted in City AM warning against proposals for European countries to increase green subsidies to stop companies fleeing to the United States.

Andy argued that measures in America’s Inflation Reduction Act should not be replication in the UK, saying that the law’s green subsidies risk “incentivising things that would be built regardless”.

“Those seeking an IRA for the UK speciously claim we need it to stay relevant to investors. This is nonsense. Global subsidy races drive inflation and amplify the malinvestment from political choices. International competition and trade conversely drives down costs and creates sustainable industries.”

The full article can be read here.