Investing For An Uncertain Future: Priorities For UK Energy And Climate Security
Source: Chatham House
The UK energy system has entered a period of unprecedented uncertainty. Across the country, ageing or obsolete plant, equipment, buildings and infrastructure need to be replaced. At the same time, the government is committed to establishing a low carbon economy by 2050. Meeting these two objectives in the energy sector alone will require around £20 billion of private investment per year until 2020, three times greater than the current level of clean energy investments. Of the developed economies, the UK faces the most urgent and challenging combination of increasing net fossil fuel imports, the need to replace obsolete generation plants and an ambitious decarbonization commitment.