THREAD: One final view (promise) on the PM’s 10-point plan now that the full document is out. Wanted to pick out 5 key things that officials have buried in the detail of the document that give a hint of more detailed Government thinking to come. https://www.gov.uk/government/publications/the-ten-point-plan-for-a-green-industrial-revolution

(1) Mixed messages on big nuclear: A significant commitment to offer development capital, reversing the consensus view that the private sector should take nuclear the risk. But the lack of timeline and named projects shows the possibility of new plants is far from a done deal.

(2) Sorting the wiring: It didn’t get a mention in the headlines, but Govt has signalled a more strategic approach to electricity networks will be needed for net zero. Raises big questions on the future of the system operator and the regulatory framework.

(3) Big changes on homes: Govt v serious about homes, with a hint that gas boilers have a 15-year shelf-life. If not handled well this could be a lightning rod for political pushback as it becomes reality. Unlocking value to customers through domestic flex will be key.

(4) Getting the governance right: While the new ‘Task Force Net Zero’ might look like window dressing, it might not be. The commitment to putting a “systems approach at the heart of our thinking” could be a game-changer if aligned with a body that can actually drive across Govt.

(5) More to come: A clear acknowledgement that more will come, with a comprehensive net zero strategy in 2021. Good to see that govt is realistic, but the idea that change will be possible without any significant changes to the way we live our lives is possibly overly optimistic.