The UK’s Energy Security Strategy – What does it mean for your business?

The Energy Security Strategy (ESS) intends to speed up the UK’s efforts towards a low-carbon, energy independent future.

To advance the UK’s energy independence, the ESS put forward the below policies:

• Utilise North Sea reserves, between the UK and Norway.
• Commissioning a scientific review of shale gas extraction.
• Developing four new carbon capture, utilisation, and storage clusters by 2030, including a £2bn carbon capture scheme in Selby.
• 40% reduction in gas consumption by 2030.
• Increased targets for low-carbon power generation.
• Reduced consent times for offshore wind planning from four years to one.
• Delivery body for nuclear power (Great British Nuclear) to bring eight proposed new large nuclear reactors to final investment decisions by 2030.
• A North Sea Transition Deal which sets out plans for necessary investment and infrastructure to aid ‘decarbonised’ oil and gas extraction.
• An extension of the ECO levy, which funds improvements to the energy efficiency of social and low-income homes.
• £30m heat pump investment accelerator scheme.
• An extension to the boiler upgrade scheme.
• A list of the first government-backed renewable hydrogen projects.
• An extra £10bn for UK Export Finance, with a focus on clean energy.

ESS focuses on long term ambitions which meant it was criticised for its lack of measures for businesses now.

What are the benefits of ESS?

More clean energy:

• Nuclear – By 2050, the plan is that the UK will have up to 24-gigawatt hours of nuclear energy, representing around 25% of projected electricity demand. Great British Nuclear launched a £120 million Future Nuclear Enabling Fund in April 2022.
• Offshore wind – The Government have committed to having up to 50GW of wind power by 2023 with an added 5GW from floating offshore wind in deeper seas. They have also agreed to cut planning approval times for new offshore wind farms from four years to one year.
• Onshore wind – The Government will be “developing partnerships with a limited number of supportive communities who wish to host new onshore wind infrastructure in return for guaranteed lower energy bills.”
• Hydrogen – The ESS intends to double the production of low-carbon hydrogen by up to 10GW by 2030, with at least half of this amount coming from green hydrogen.
• Solar PV – The ESS note it will “radically simplify planning processes with a consultation on relevant permitted development rights and will consider the best way to make use of public sector rooftops.”

Due to the energy crisis, a lot has changed since the ESS was published in April 2022. The cost of energy has forced a shift in priorities for many, with homeowners and businesses putting sustainability to the side to focus on security and cash flow.

Here at Utility Trade Ltd we support our customers with all their energy requirements. That ranges from the management of their energy accounts and renewals to guiding them on their sustainability journey with our energy efficiency team.

If you would like advice on your business energy needs, get in touch.

📞0116 366 7981 
📩 [email protected]
💻 https://utilitytrade.com/

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