Commenting on the Energy Secretary’s decision to approve the development of Jackdaw gas field in the North Sea, RenewableUK's Chief Executive Tara Singh said:
'RenewableUK, as the trade association for the UK's clean power industry, does not take a position on individual oil and gas licensing decisions, but we support the North Sea and the people who work in it. Oil and gas will continue to play a role in our energy mix during the transition, and the North Sea provides job and tax revenue benefits as it does so. We also recognise that many of the skills, capabilities and companies supporting the UK oil and gas sector are also being used to build the clean power system of tomorrow – with more than a third of RenewableUK members today supporting both sectors.
'The Government’s announcement of a new Energy Wealth Fund is potentially an important part of the energy transition, and we look forward to seeing the detail. Offshore wind is already a mature, cost-competitive technology, with new capacity secured through auctions for Contracts for Difference. The fund could however further support UK supply chains, as well as the next generation of innovative technologies, including deepwater and floating offshore wind.
'Renewables already provide more than half our electricity, and the pipeline of new projects coming online over the next few years will keep that momentum going. The wind industry alone employs 55,000 people, including former oil and gas workers who are helping us maintain our global lead in offshore wind, with job numbers set to double by the end of the decade.
'Oil and gas are traded on global markets, so developments like this, whilst supporting jobs and revenues, will not shield consumers from volatile prices. Homegrown clean power can, by reducing the amount of expensive gas we have to buy on international markets which we can't control.
'So we should back today's North Sea while continuing to build tomorrow's energy system, moving to clean power as swiftly as possible to create more jobs and secure billions in private investment, and accelerating the electrification of homes, transport and industry so the benefits are felt right across the economy.'
Source: RenewableUK
