Cadent Overview

And launched a new British Energy Security Strategy Summary of UK Government Energy and Security Strategy 2030 H Hydrogen Oil & Gas . Now Financial support framework for production published Low carbon hydrogen standard First allocation to electrolysis later in 2022; operation by 2025 Net Zero Hydrogen Fund (£240m) New licensing rounds Review of shale gas safety Phase out of Russian oil and coal by end 2022 Increased target from 5GW to 10GW; 5GW from electrolysis 20-30MT CCUS >40% reduction in gas consumption 2050 240-500TWh supply 'Net Zero compatible' oil and gas sector • End sale of gas boilers in the 2030s Net Zero by 2050 RAB model for new nuclear Nuclear GB Nuclear Vehicle being set up • Up to 8 new reactors progressed • Up to 24GW of capacity +++ Wind & Solar Contracts For Difference framework well established • Up to 50GW of offshore wind >100GW offshore wind • Up to 70GW of solar by 2035 Energy System • New 'Future System Operator in place by 2024 Responsibility for strategic planning across gas and electricity and operations for electricity 25 25

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