Britain's new energy strategy: too long-term and supply-side focus
- Apr 8, 2022 2:38 pm GMT
The UK Government's energy security strategy has finally been published. It is underwhelming - while there are some positives around the development of UKCS oil and gas production and a new commitment to nuclear, there is nothing new to address either short term security of supply concerns or affordability.
The focus is almost entirely on more supply-side measures, and despite describing energy efficiency as a priority, there are no new targets or initiatives in that area, meaning that actual measures to reduce heat losses in homes remain largely absent from energy policy.
The strategy is also worryingly vague, with plans to add "up to" XX MW of various technologies rather than "at least". Up to can mean anything above zero, which is hardly encouraging in a strategy which is supposed to be delivering security of supply.
This strategy is likely to fall short in its objective of delivering security of supply, certainly in the short-to-medium term. Of course we need to plan for the future, but capacity margins will be wafer thin next winter, with a capacity market shortfall. This leaves consumers paying more for a significantly less secure electricity system - I suspect the only thing less popular than expensive energy will be unreliable expensive energy.
See my full analysis of the strategy here:
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