Boris says UK won't be subjected to Putin blackmail over energy
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The Government published its new energy strategy on Thursday amid a crisis largely brought on by soaring prices of foreign gas and volatile international markets. It will let the UK “take back control” and gain energy independence thanks to the help of major British brands that are set to play a key role.
The Government appears to be focused on clean energy, with a blueprint that could see 95 percent of Britain’s electricity be produced by low-carbon energy sources by 2030.
Business Secretary Kwasi Kwarteng told Express.co.uk: “The goal of taking back control is at the heart of our new Energy Security Strategy, and it’s fantastic to see British global leaders like Shell, BP and Rolls-Royce stepping up to help put the strategy into action.
“We look forward to working with businesses across the UK to supercharge cheap renewables and new nuclear, while maximising North Sea oil and gas production for security of supply.”
And playing a key role will be nuclear power, which is where British engineering giant Rolls-Royce comes in.
The Government has announced a £210million investment into Rolls-Royce to help it further develop one of the world’s first Small Modular Reactor (SMR) designs.
Rolls-Royce’s SMRs are set to be much cheaper and easier to deploy than traditional nuclear power stations.
Although the designs are currently in different shapes and sizes, it is thought that they will be around the size of two football pitches but would be able to power half a million homes.
This power output is roughly a fifth to a third of the larger more traditional reactors at Hinkley Point C, the project underway in Somerset.
Alastair Evans, Director of Corporate Affairs, Rolls-Royce SMR, told Express.co.uk: “The Government has provided welcome clarity that SMRs will form a key part of the route to energy security and decarbonisation in the UK.
“It is now important that we work in parallel on siting and funding to ensure we can move at pace.
Tom Samson, CEO of Rolls-Royce SMR, said: “The Rolls-Royce SMR remains the fastest route to market for new nuclear deployment in the UK and we welcome this Governments’s clear commitment to turbocharging nuclear deployment.
“Rolls-Royce SMRs offer an affordable, sustainable and secure low carbon future for the UK and an export opportunity to realise the aims of Global Britain if we act now.”
Also poised to play a crucial role are Shell and BP.
The energy giants are investing hundreds of millions into our economy to help boost energy security.
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The British companies are focused on projects such as exciting new green technologies in the Humber, Teesside, and Scotland.
Both companies are working on Carbon Capture Storage, a process that captures and transports carbon dioxide from projects which emit the greenhouse gas, and buries it deep underground.
They are also keen on investing in offshore wind and hydrogen, which is viewed as a cleaner alternative to natural gas.
Shell takes part in the Acorn Project in Scotland and is part of a group known as the South Wales Industrial Cluster (SWIC), a group looking to decarbonise by using technologies like CCS.
Shell CEO, Ben van Beurden said: “This is a once-in-a-generation opportunity to ensure an orderly transition to net zero while bolstering the UK’s energy security and Shell is ready to play our part.
“We plan to invest up to £25billion in the UK energy system over the next decade subject to Board approval, and more than 75 percent of this is for low and zero-carbon technology.
“Offshore wind, hydrogen and CCS will all be critical but we need the right policy frameworks in place. We look forward to working with government on the important detail in order to make this a reality.”
Both Shell and BP are also part of the East Coast Cluster, one of the UK’s first two carbon capture and storage projects aiming to remove 50 percent of all industrial cluster CO2 emissions across the Humber and Teesside.
BP CEO, Bernard Looney, said: “As global energy systems transform, BP applauds today’s strategy to provide the UK with more reliable and affordable energy without losing focus on the drive to net zero.
“Recognising there’s energy security in energy diversity – the strategy doubles down on the energy transition with ambitious targets for offshore wind, hydrogen, and electrification while embracing the role that lower carbon North Sea oil & gas plays. At BP – we’re all in, and this new strategy aligns with our plan to spend £2 for every £1 we make here to 2030.”
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