THE ENERGY WHITE PAPER PUBLISHED BY THE GOVERNMENT
The Energy White Paper sets out how the UK will transform its energy system and reach net zero emissions by 2050.
Core parts of the Energy White Paper focus on:
- Supporting up to 220,000 green jobs in the next 10 years.
- Transforming the UK’s energy system to assure that it is fit for a net zero economy.
- Making the energy retail market truly competitive.
- Generating emission-free electricity by 2050 with a trajectory that will see the UK have overwhelmingly decarbonised power in the 2030s.
- Establishing a UK Emissions Trading Scheme (UK ETS) from 1 January 2021 to replace the current EU ETS at the end of the Transition Period.
- Continuing to explore a range of financing options for new nuclear
- Delivering 40GW of offshore wind by 2030, including 1GW of floating wind, enough to power every home in the country – while attracting new offshore wind manufacturers to the UK.
- Investing £1 billion in carbon capture storage in four industrial clusters by 2030
- Kick-starting the hydrogen economy by working with industry to aim for 5GW of production by 2030, backed up by a new £240m net zero Hydrogen Fund for low carbon hydrogen production.
- Investing £1.3 billion to accelerate the rollout of charge points for electric vehicles in homes, streets and on motorways as well as up to £1 billion to support the electrification of cars, including for the mass-production of the batteries needed for electric vehicles.
- Supporting the lowest paid with their bills through a £6.7 billion package of measures that could save families in old inefficient homes up to £400.
- Moving away from fossil fuel boilers, helping to make people’s homes warmer, whilst keeping bills low.
- Supporting North Sea oil and gas transition for the people and communities most affected by the move away from oil and gas production.