The election result will “not make a material difference” to larger infrastructure-type investments, according to EY.

Tony Ward, Head of Power & Utilities at EY, said: “It’s far less influenced by who happens to be in government at the time.

“Many of the big investment decisions we’ve been seeing in the last few years, I don’t think it’s been waiting for the outcome of the election it’s actually the components of putting the big projects together.”

The Conservative Party have said they will back fracking if it’s regulated properly.

Mr Ward believes there will be “a continuing supportive environment but it doesn’t mean all of a sudden things become much more straight forward in terms of the planning regime”.

The prospect of an energy policy framework that lacks any big surprises for the next five years should reinforce a sense of certainty and stability in the energy sector.

Mr Ward concluded the big investment decisions, such as the investment in off-shore wind or Hinkley Point “were not likely to be dependent on the outcome of this election.

“However, investors will be looking to see the delivery of the anticipated consistency around infrastructure policy and financing before they turn their intentions into reality.”