Energy Security Strategy GIIA Briefing Paper
Last week saw the government publish the long-awaited Energy Security Strategy – the blueprint of a roadmap to building a more resilient, self-sufficient, domestic energy ecosystem.
In doing so, it is hoped that we will not only accelerate our energy transition to reach Net Zero status by 2050, but also shift away from dependence upon, and exposure to, an unpredictable foreign energy market.
Against the contextual backdrop of a post-pandemic surge in demand for energy, the ongoing war in Ukraine and rampant cost of living crisis, the Strategy sets out ambitious objectives, including; for Britain to have 25% of its energy demands met by nuclear; to deliver up to 50GW in offshore wind by 2030, and to double hydrogen production to 10GW by 2030 (with half to be derived from electrolytic hydrogen).
In this briefing paper, GIIA highlights key announcements within the Energy Security Strategy that are likely to be of interest to the private investor community.