Uk Energy Policy And The End Of Market Fundamentalism

Download or read book The UK's energy supply written by Great Britain: Parliament: House of Commons: Energy and Climate Change Committee and published by The Stationery Office. This book was released on 2011-10-25 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Government must start thinking strategically about energy security to protect the UK's energy supply against short-term shocks and rising global energy prices, according to a report by MPs on the Energy and Climate Change Committee. Gas storage capacity needs to be increased in the UK to minimise the potential damage from supply interruptions or price spikes, the report argues. It reveals that the UK's current storage capacity amounts to only 14 days worth of gas supply - a dangerously low level compared with France which has 87 days worth of gas storage, Germany 69 and Italy 59. 19 gigawatts (GW) of ageing electricity plant will close by 2018 and the UK will become increasingly reliant on energy imports as North Sea oil and gas reserves decline. The report concludes that new electricity generation currently being built or planned will fill this "gap". But it urges the Government to ensure security of supply by delivering on its energy efficiency targets, rolling out smart meters - that can balance demand - and maintaining a diverse energy mix.