Question to the Department for Energy Security & Net Zero:

To ask the Secretary of State for Energy Security and Net Zero, what assessment his Department has made of the potential merits of a cap and floor mechanism as an option to enable investment in large-scale, long-duration electricity storage.

Government is currently undertaking the next phase of policy development to assess what policy approach is best suited to enable investment in Large-scale, Long-duration Electricity Storage (LLES) projects. Government have been assessing a range of potential interventions, including cap and floor mechanisms, and their suitability to enable investment in LLES. Government anticipates further consultation with stakeholders later this year.