Our strategic vision
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Our vision: "...to accelerate the delivery of Net Zero"
Our mission: “…to shape and implement schemes which enable low-carbon investment at least cost to the consumer”
Our vision and mission is underpinned by our people who are at the heart of delivering our objectives to delivery excellently on our schemes and advise industry and government.
Our Objectives
Our commitment to our stakeholders is:
- To ensure that our existing schemes are delivered excellently, improving the efficiency and effectiveness of our scheme delivery through focus on participant satisfaction and continuous improvement
- To provide advisory services to ensure that the CfD and CM remain effective and expand our advisory services to an economy-wide delivery of Net Zero, where separate funding is provided.
- To develop further an agile and dynamic business culture to ensure we are ready to advise on and manage new schemes, including Power CCUS CfDs, and develop capability so that the business is right-sized and -skilled to deliver our Vision and Mission.
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Next steps to Net Zero
In November 2020, the Government announced their 10 Point Plan to "Build Back Greener", the ambitious plan brings a £12 billion investment from the Government in new technologies such as carbon capture and hydrogen.
What does this mean for LCCC?
LCCC is expanding its remit to Industrial and Power Carbon Capture Storage. These are exciting times for us and the new contracts will contribute to the journey towards net zero.
Allocation Round 4 results were announced in summer 2022, LCCC saw an increase in the number of CfD contracts by 99 contracts from solar, tidal, offshore and onshore wind. The announcement from the Government on annual auctions to decarbonise cements the commitment to Net Zero and the role of LCCC in reaching this goal.
Allocation Round 5 opened on 31 March 2023 with results due to be announced in Summer 2023.