UK Energy Investment Report 2014
2016-05-08
UK Department for Energy and Climate Change has launched Energy Investment Report, detailing the state of energy investment in the UK since 2010. This represents an important milestone, and confirms that we are on track to meet our 2020 energy investment goals. Energy leads in the UK’s 2013 infrastructure investment plan, Energy projects currently account for around 60% of the UK’s total infrastructure project pipeline, totalling over £200 billion. This is more than UK investment needed in our water, communications, and transport infrastructure combined,demonstrating the scale of the investment in UK energy ahead.
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January 2010 and 2013, mobilised over £45 billion in low carbon energy infrastructure. This investment will keep the lights on and emissions down, whilst saving consumers money on their energy bills, and will also support up to 250,000 jobs in the low-carbon energy generation sector by 2020.
Nearly £8 billion invested across a range of renewable technologies in 2013 alone – a record year.
In April 2014 we awarded £12 billion investment contracts to eight renewable projects supporting up to 8,500 jobs.
Mindful of consumers and delivering value for money. In 2013 alone, we estimate the government’s demand side policies saved £4 billion on UK fuel bills and are estimated to save a total of £20bn from fuel bills in 2020.
For the first time we have brought together into one report a comprehensive assessment of the investment across UK energy and a detailed look at the investment challenge and opportunities in the future in order to meet our climate change targets and deliver reliable, secure and cost effective energy supplies.
The report considers both supply and demand side of the full range of energy sectors and technologies, examining the progress the sector have made to date, the strength of the sector, its installed capacity and employment and the opportunities that are in the pipeline for future investment to 2020 and beyond.
It also looks at the domestic and global risks facing investment and what the UK is doing to mitigate the impact on investment in UK projects.
This builds on the Interim Report which we published in April which provides a high level, brief snapshot of investment across the energy space.
This report will form the basis of on-going quarterly reports that provide more detailed dives into different energy sectors and technologies. The full report will be updated next year.
Key facts and figures
The UK is rated the most energy secure country in the EU, and 4th in the world as a whole.
The National Infrastructure Plan puts the pipeline of investment in energy as over £200 billion – more than the £151 billion investment in communications, transport and water combined. Between 2014 and 2020 we will need to invest a £100 billion in the electricity system alone.
The 2013 Energy Act will support up to 250,000 jobs in low carbon generation by 2020.
There has been £45bn of investment in electricity generation and networks between 2010-2013. Between 2014 and 2020 a further £100 billion could be needed in the electricity system alone.
Over two fifths of energy used in the UK is used for heating in one form or another – and heating demand accounts for over 60% of natural gas use.
In 2013 alone, we estimate the government’s demand side policies saved £4 billion on UK fuel bills and are estimated to save a total of £20bn from fuel bills in 2020.
The roll-out of smart meters will see £7.5bn of private investment up to 2020 supporting 10,000 jobs during peak installation.
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