PRESS RELEASE : Stakeholders respond to the government’s Energy Security Plan [March 2023]

Tom Greatrex, Chief Executive of the Nuclear Industry Association, said:

Great British Nuclear will transform the way nuclear projects are deployed in the UK, enabling us to deliver more capacity more quickly. It will help us become a global leader in large and small scale nuclear, with the SMR selection process offering a real opportunity for home-grown technologies and others to bring jobs, skills and investment to the UK.

For nuclear to provide a quarter of Britain’s electricity means embarking on an ambitious new build programme, including a fleet of new stations, as well as placing nuclear on par with other green technologies to drive crucial investment.

More nuclear will cut gas imports, cut carbon and create good jobs for communities all across the country.

David Postings, Chief Executive of UK Finance said:

The banking and finance sector fully supports the government’s goal of net zero UK emissions by 2050 and is committed to a just transition. We welcome the government’s commitment to investment in the UK’s energy independence and hope this package can be used to deliver green growth up and down the country.

Providing a clearer path to net zero and mobilising investment through the Green Finance Strategy is crucial to enable the banking and finance industry to help deliver a just transition to a more sustainable economy. We have long called for further steps to green the housing stock and welcome the government’s pledge to increase energy efficiency as part of the Great British Insulation Scheme.

Matt Evans, Director for Markets at techUK said:

We welcome the government’s latest commitment to review UK’s strategy and deliver net zero. This new raft of policies should kick-start private sector innovations across clean energy and wider industry.

The tech sector has a crucial part to play in delivering on the targets, there is also the real opportunity to make the UK the home of climate tech.

With the increased urgency of addressing climate change, it’s time to make real strides in the transition towards a more sustainable and prosperous future.

Syma Cullasy-Aldridge, CBI Chief Campaigns Director, said:

Businesses across the country are raring to go on delivering green growth and making the most of the UK’s potential as a net zero superpower. The package of measures announced by the government represents a gear shift to boost energy security, reduce household bills and re-establish the UK’s credentials as a leader in green technologies.

In streamlining red tape, tackling the cumbersome planning process and identifying ways to catalyse investment, the government is laying solid groundwork that will allow the green economy to take off. Backing for new technologies, like hydrogen and nuclear, where the UK has the capacity to win big is hugely welcome.

With the strategy now set, the test is for all parts of government and business to switch to delivery mode. We need to move at pace to keep up with fierce international competition for green investment.

Steve Scrimshaw, VP of Siemens Energy UK&I, said:

Today’s news gives the industry greater clarity and a forward-looking strategy which means we can get on with the job in hand, powering up Britain. Siemens Energy, as a world-leading technology provider working across the entire energy-value chain, welcomes this package of measures today particularly on carbon capture and hydrogen production.

This reset on energy policy builds on Chris Skidmore MP’s independent Net Zero Review and as an energy company, employing over 6,000 employees in the UK&I, we fully support these new announcements.

Lawrence Slade, Chief Executive of Energy Networks Association, which represents the UK’s energy network operators, said:

Investment and innovation in Great Britain’s electricity and gas networks is crucial if we are to reach net zero in time. That’s why we have thousands of innovation projects under way and are investing billions over the next decade to get our grids net zero ready. The clock’s ticking and we need planning, regulation and policy to keep pace. It’s great to see this being recognised by government today.