This week saw the government announce plans for a significant acceleration of our homegrown power, with the goal of moving away from fossil fuels whilst gaining greater energy independence.
These plans come in response to the rising global energy prices and the recent volatility in international markets – developments which have had a significant financial impact on our household energy bills.
Via the government’s British Energy Security Strategy, which builds on the Prime Minister’s Ten Point Plan for a Green Industrial Revolution, we are planning for cleaner and more affordable energy to be made in Great Britain, with the expansion and acceleration of nuclear, wind, solar, hydrogen, oil and gas.
In the case of nuclear, we will see a significant acceleration of this clean and reliable source of energy, aiming for up to 24GW by 2050. Moreover, a new government body will be launched, Great British Nuclear - which will be backed by significant funding - to help bring forward new projects, and we will also launch the £120 million Future Nuclear Enabling Fund this month.
Throughout this decade, we will look to progress a number of nuclear projects, which could see the government delivering up to eight reactors - the equivalent of delivering one nuclear reactor a year, rather than one a decade.
In addition to nuclear, our offshore wind ambition will see up to 50GW by 2030 (enough to power every home in the UK), along with cutting approval times for new wind farms and streamlining the time it takes for new projects to reach the stage of construction. We will also consult with communities who wish to host new onshore wind infrastructure with the incentive for guaranteed lower energy bills in return.
Additional initiatives include a new licensing round for new North Sea oil and gas projects (planned to launch in Autumn), and a new taskforce will provide the necessary support for new developments. Moreover, a £30 million Heat Pump Investment Accelerator Competition, to make British heat pumps, will be launched this year, and we will also look to increase the UK’s current 14GW of solar capacity, with the potential to grow up to 5 times by 2035.
Finally, we will also look to double our low carbon hydrogen production ambition to up to 10GW of capacity by 2030. At least half will come from green hydrogen and will utilise excess offshore wind power to bring down costs.
I know that energy prices are of great concern to residents and local businesses. As such, these are very welcome initiatives - they will reduce our reliance on fossil fuels and energy sources that are subject to the volatility of international prices, thereby increasing our self-reliance and our energy security.
Sadly, this week also saw disturbing reports that the Russian armed forces have been murdering civilians during their occupation of the Ukrainian city of Bucha. As the Prime Minister recently said, the UK has been at the forefront of supporting the International Criminal Court’s investigations into atrocities committed in Ukraine – the perpetrators must be brought to justice. We will also continue to support the Ukrainian people via stronger sanctions, increased military support and our humanitarian support package.
Locally, I continue to meet with Swindon’s Ukrainian community and my team are working flat out to assist residents with visa queries.
