The UK is improving energy efficiency, expanding renewable and low carbon energy and maximising production of oil and gas.
Energy is a major driver of our growth. Energy projects, totalling over 200 billion GBP, account for around 60% of our total infrastructure project pipeline.
The UK is one of the best places in the world to invest in renewable energy. We offer significant supply chain opportunities across the sector, including waste energy, electrical networks and offshore wind. This will help the UK meet projected increases in electricity demand, achieve its low carbon targets and enjoy economic growth.
The industry has set out proposals to develop 18 gigawatts (GW) of nuclear generating capacity at 6 sites. With nuclear accounting for 20% of the UK’s electricity demand, you can expect high returns on investments at every step of the supply chain. We have also committed to invest at least 250 million GBP in nuclear research and development.
The UK Continental Shelf remains an important prospect for oil and gas, with significant reserves remaining, and potential discoveries still to be made. Technology will play a notable future role: the UK welcomes companies with experience of decommissioning and the safe development of shale onshore. A skilled and experienced energy labour pool of more than 600,000 people has grown up over many years to support the sector, with clusters spread across across the UK.
We’re committed to building a sustainable energy future for the UK, with regulatory and financial support measures to protect and provide attractive incentives to investors.