Insider Secrets

Insider Secrets

Learn how the PROs are making money from the oil and energy market.

Loading, please wait

UK Energy Infrastructure Needs £330 Billion Upgrade by 2030

By
Posted on Thu, 08 November 2012 23:18 | 0

A new report by the London School of Economics (LSE), titled ‘Energy and the Economy: The 2030 Outlook for UK Businesses’ has estimated that £330 billion is needed to be invested into the UK’s ageing energy infrastructure before 2030 in order to avoid nationwide blackouts, and still meet the climate targets.

The figure is a huge step up from the governments estimates of £110 billion that they were hoping to spend on upgrades by 2020.

The report tried to cover a variety of possible futures in order to prepare for every outcome. It outlined three scenarios; one in which the UK and EU economies recover sufficiently for the $330 billion to be invested in clean energy; a second in which the UK pursues its ‘dash for gas’; and the third, where austerity has led to stagnating investments and green technologies and plans are forgotten.

Related Article: The Close Relationship between Economic Growth and Carbon Emissions

Professor Samuel Frankhauser, the author of the report, warned that businesses must already start to prepare for a wide variety of energy scenarios in the future. “A slight change of emphasis in policy, a weakening economic picture or a preference for cheaper energy sources over low carbon energy generation could result in very different operating environments for UK businesses. It is crucial UK businesses take action now to overcome the potential challenges they may face.”

By. Joao Peixe of Oilprice.com


Join the discussion

Special Reports

8 Mega Trends

8 Mega Trends

By Oil & Energy Insider Analysts

8 OIL & GAS INDUSTRY MEGA-TRENDS AND HOW TO PROFIT FROM THEM
Here's what our 400 global energy assets are telling us to be prepared for right now...

LNG Technology

LNG Technology

By Oil & Energy Insider Analysts

THE "FLOATING REFINERY" STOCK THAT COULD FUND YOUR RETIREMENT
This company's incredible tanker technology could eliminate many of the world's offshore pipelines...

Subsea Production

Subsea Production

By Oil & Energy Insider Analysts

THE END OF OFFSHORE DRILLING?
This disruptive market will grow 84% to 270% over the next five years: Discover the 6 equipment suppliers set to profit.

Be the first to comment on this article.