Ed Davey: UK rated fourth most energy secure country

June 10, 2014 2:59 PM
Originally published by UK Liberal Democrats

Secretary of State for Energy and Climate Change Ed Davey gave a speech today at the Economist Energy Summit on the Government's role in maintaining Britain's energy security.

Ed ensured that the Liberal Democrats were committed to fulfilling Britain's electricity generating capacity. He set out the Liberal Democrat's Energy Security Strategy, involving energy efficiency, reliable networks and supplies, improving the reliability of global markets and fast-tracking the transition to a home-grown low-carbon energy system.

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Labour left a black hole in Britain's energy future, but since 2010, energy investment has picked up. ONS figures suggest that under this Government, we have surpassed the total electricity investment under the last. And figures from Bloomberg New Energy Finance show that average annual investment in renewables has more than doubled.

According to the US Chambers, Britain is more energy secure than any other country in the EU, and more energy secure than many large countries including the US and China. With the Liberal Democrats commitment to smart intervention, whilst also using markets power as much as possible, sufficient capacity and low carbon capacity can be achieved in the years ahead.

In his speech, Ed Davey said:

"Britain's low carbon investment pipeline has never been so large. We're heading the world in terms of investment opportunities in offshore wind and marine energy.

We've agreed terms for the first nuclear power station in a generation.

We have begun two major commercial scale projects for carbon, capture and storage - in both gas and coal - the only country in the EU doing CCS seriously.

And with the 2013 Energy Act passing into law in December, we now have one of the best legal and financial frameworks to support the cost-effective growth of low carbon technology anywhere in the world."

National Grid has announced it will pilot additional demand measures this coming winter as a safety net to protect households in difficult circumstances.

Ed commented:

"But with these and our other measures in place, both Ofgem and National Grid are confident that the risk of supply disruption will remain at very low levels even in the next few years.

And as Energy Secretary, I'm convinced that this Government now has in place the detailed plan our country previously lacked - so the lights will stay on this year, next year and into the future."