Generic Hero BannerGeneric Hero Banner
Latest market news

UK govt adjusts ‘clean power’ target to 95pc by 2030

  • Märkte: Electricity, Emissions
  • 05.12.24

The UK government today amended one of its key manifesto targets, to aim for "at least 95pc of low carbon" power generation by 2030, slightly more modest than its previous pledge of "zero-carbon electricity by 2030".

The government has not confirmed its definition of clean power, but it is likely to cover renewables such as wind, solar and nuclear power, and could include a role for gas-fired electricity with abatement technology such as carbon capture and storage (CCS).

The government referenced a recent report from the UK's National Energy System Operator (Neso), which set out steps to reach the 2030 "clean power" goal.

The target is a "huge challenge but is achievable", Neso said. It set out the "shift in approach" needed, including investment of on average £40bn/yr ($51bn) over the next five years, significant planning reforms and targets for solar, wind and storage.

The government today said it will set out further steps in a forthcoming clean power action plan, which will outline reforms for the planning system and the power grid. Argus understands that this will take into account advice from Neso and other bodies such as the independent advisory Climate Change Committee (CCC).

UK prime minister Keir Starmer last month unveiled a new greenhouse gas (GHG) emissions reduction target of 81pc by 2035, from a 1990 baseline, at the UN Cop 29 climate summit. The goal is in line with recent CCC recommendations.

The government today reaffirmed its pledge to "accelerate to net zero" — the UK's legally-binding commitment to reach net zero GHG emissions by 2050. It also noted that the country's carbon budgets, which are also legally binding and place a restriction on UK GHG emissions over a five-year period, are a "key metric".

The Labour government, which took office in July, has ramped up climate leadership and action on emissions cuts. The UK halved its GHG emissions over 1990-2022, although the declining share of coal in the power generation mix was a large contributing factor. The country's last coal-fired power plant closed in September. Low carbon energy — which includes wind, solar, hydro, bioenergy and nuclear — made up around 70pc of the UK's electricity in the second quarter, provisional government data show.


Teilen
Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more