UK Energy Security Strategy & Cadent Financial Overview
And launched a new British Energy Security Strategy
Summary of UK Government Energy and Security Strategy
H
Hydrogen
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)
2030
Increased target from 5GW to
10GW; 5GW from electrolysis
2050
240-500TWh supply
New licensing rounds
Oil & Gas
.
Review of shale gas safety
.
Phase out of Russian oil and coal by end 2022
20-30MT CCUS
>40% reduction in gas
consumption
'Net Zero compatible' oil and gas
sector
Nuclear
RAB model for new 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
•
End sale of gas boilers in the
2030s
Net Zero by 2050
25
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