Surely, even if a few coal plants carried on until 2025 or 2030, would it not be a good idea to reduce their emissions from existing levels so that we could improve air quality while those coal stations were in being? Whether one likes it or not, they will be in being for a little longer.
There is also the question of investor confidence—I know that the noble Baroness has mentioned this as well and we may have to take differing views. Imposing the EPS on existing plants in a way which is detrimental to those assets is likely to have negative consequences for wider investor perceptions of the UK. I know that that will not please the noble Baroness, but I think that those are points that other people think are important.
Furthermore, under the national policy statements for planning, a “significant extension” to an existing coal-fired power station triggers a requirement that the station be equipped with CCS. That prevents developers circumnavigating the CCS requirement by building additional or replacement capacity on an existing power station.
Schedule 4 will therefore allow the EPS to be applied to an existing coal station in the event it is upgraded in a way that extends its technical lifetime for a period comparable to that of a new plant, but it does not trigger application of the EPS by way of the planning regime.
The Government are working to reduce the country’s reliance on unabated coal in a way which is cost effective for both industry and consumers. The noble Lord, Lord Oxburgh, is not in his place, but in the balance that we are seeking for the new technologies and the way forward for low-carbon technology we have also to be mindful of consumers. That is why consumers should have priority alongside the other matters that the noble Baroness and my noble friend have articulated so strongly. However, I hope that in this circumstance my noble friend will feel able to withdraw his amendment.