The government published its new energy strategy on Thursday amid a crisis largely caused by soaring foreign gas prices and volatility in international markets. It will allow the United Kingdom to “take back control” and gain energy independence thanks to the help of major British brands called upon to play a key role.
The government appears to be focused on clean energy, with a plan that could see 95% of UK electricity generated by low-carbon energy sources by 2030.
Business Secretary Kwasi Kwarteng told Express.co.uk: “The goal of regaining control is at the heart of our new energy security strategy, and it is fantastic to see UK world leaders like Shell, BP and Rolls-Royce are mobilizing to help put the strategy into action.
“We look forward to working with companies across the UK to boost cheap renewables and new nuclear, while maximizing North Sea oil and gas production for security of supply.”
And nuclear power will play a key role, where British engineering giant Rolls-Royce comes in.
The government has announced a £210million investment in Rolls-Royce to help it develop one of the world’s first small modular reactor (SMR) designs.
Rolls-Royce’s SMRs are expected to be much cheaper and easier to deploy than traditional nuclear power plants.
Although the designs currently come in different shapes and sizes, it is believed that they will be around the size of two football pitches, but could power half a million homes.
This power output is around a fifth to a third of the larger, more traditional reactors at Hinkley Point C, the current project in Somerset.
Alastair Evans, Rolls-Royce SMR Corporate Affairs Director, told Express.co.uk: “The government has provided welcome clarity that SMRs will be a key part of the path to energy security and decarbonisation. United Kingdom.
READ MORE: Rolls-Royce to roll out ‘affordable, sustainable and safe’ nuclear
UK companies are focusing on projects such as exciting new green technologies in the Humber, Teesside and Scotland.
The two companies are working on Carbon Capture Storage, a process that captures and transports carbon dioxide from projects that emit the greenhouse gas, and buries it deep underground.
They also want to invest in offshore wind and hydrogen, which are seen as a cleaner alternative to natural gas.
Shell is involved in the Acorn project in Scotland and is part of a group known as the South Wales Industrial Cluster (SWIC), a group that seeks to decarbonise using technologies like CCS.
Shell CEO Ben van Beurden said: “This is a unique opportunity to ensure an orderly transition to net zero while strengthening the UK’s energy security and Shell is ready to play our part. .
“We plan to invest up to £25 billion in the UK energy system over the next decade, subject to board approval, and over 75% of this is for low and zero carbon technologies.
“Offshore wind, hydrogen and CCS will all be essential, but we need the right policy frameworks. We look forward to working with the government on the important details to make this a reality.
Shell and BP are also part of the East Coast Cluster, one of the UK’s first two carbon capture and storage projects aiming to eliminate 50% of all industrial cluster CO2 emissions across the Humber and Teesside .
BP CEO Bernard Looney said: “As global energy systems transform, BP applauds today’s strategy to provide the UK with more reliable and affordable energy without losing sight of the of net zero.
“Recognizing that there is energy security in energy diversity – the strategy doubles down on energy transition with ambitious targets for offshore wind, hydrogen and electrification while embracing the role that oil and gas plays low-carbon North Sea. We at BP are all on board, and this new strategy aligns with our plan to spend £2 for every £1 we earn here until 2030.”