the future of energy
Over the next few years, a large number of the UK’s existing coal, oil and nuclear power stations are due to close as they reach the end of their operational lives, or are unable to achieve the latest environmental standards. It is estimated that the demand for electricity will continue to increase, despite efforts to improve energy efficiency and reduce demand. In total, the UK is likely to need between 25-40GW of new generating capacity by 2020, equivalent to between 30-50% of today’s existing capacity. As an integrated energy company, we have a big part to play in making this happen.
The UK needs a diverse mix of energy generation to reduce CO2 while maintaining affordable and secure supplies. It is essential that we are not reliant on one source. Our strategy is to move to a more environmentally sustainable mix of power stations with increasing amounts of gas and renewable energy. At the same time we believe we must deploy the full range of energy technologies; cleaner coal will play a reducing, but vital, part to keep supplies secure, reliable and affordable. New nuclear will also have a vital role to play in the future energy mix.
We’ve embarked upon a large scale building programme of new generation infrastructure and are planning new-build investments which could amount to around £1 billion each year over the next 10 years.
There’s a growing demand for energy efficient solutions from our customers, so we have created an Energy Services division. This brings together our expert knowledge and provides market-leading energy services for our customers, thereby encouraging them to rethink the way they use energy.
