Francesco Mazzagatti, Chief Executive of Viaro Energy, has raised significant concerns regarding the current state and future prospects of the UK energy sector in a recent interview with The Times. Citing fiscal instability, regulatory uncertainty, and the potential for damaging policy changes, Mr. Mazzagatti warned that the sector faces an uncertain situation, with companies increasingly looking to invest elsewhere.
Francesco Mazzagatti revealed that Viaro Energy has postponed a substantial £400 million gas development project in Scotland due to the unstable regulatory landscape, a decision that could result in the loss of hundreds of jobs. He stressed that this is just one example of the industry’s widespread concern, with numerous companies actively seeking opportunities outside the UK.
To get more insights into the challenges facing the UK energy sector and Mr. Mazzagatti’s thoughts, please visit the full article in The Times.