U.K. Plans New Energy Law to Enable Renewable, Nuclear Build Out
Comment of the Day

May 06 2022

Commentary by Eoin Treacy

U.K. Plans New Energy Law to Enable Renewable, Nuclear Build Out

This article from Bloomberg may be of interest to subscribers. Here is a section: 

The U.K. will introduce new laws for energy to enable a fast build out of renewables and nuclear power stations as set out in the government’s energy security strategy last month.

An energy bill will be included in the Queen’s Speech on May 10, according to a person familiar with the matter who asked not to be named because the information isn’t public.

The last significant set of energy legislation was in 2013 and the government has accelerated its push toward net zero significantly since then. Britain is targeting a tripling of installed nuclear power capacity by 2050 and plans to build 50 gigawatts of offshore wind farms this decade. The nation has also increased its ambition on hydrogen, solar power and measures to spur North Sea oil and gas projects.

“This country now has a raft of ambitious targets in place and the focus must now be on delivering these,” said Dhara Vyas, director of advocacy at EnergyUK. “A new Energy Bill should create a framework for a low carbon future. The energy industry is ready to deliver.”

Eoin Treacy's view

North Sea oil allowed successive UK governments the leeway to avoid thinking seriously about energy policy. In the 15 years since the UK became a net energy importer, social cohesion has deteriorated, taxes have risen, debt has become problematic and social services have suffered. That’s not all because of energy imports but it is a factor at the margin.

Click HERE to subscribe to Fuller Treacy Money Back to top