Grant Shapps convenes summit with vitality giants in Downing Street
T
he UK’s vitality business leaders will collect in Downing Street on Wednesday to debate financial development and vitality safety with Grant Shapps.
The Energy Security Secretary will meet firms together with EDF, SSE, Shell and BP, who collectively have multi-billion pound plans to spend money on low and zero-carbon tasks.
Mr Shapps will spotlight the Government’s determination to spend money on home-grown vitality sources, together with renewables, nuclear energy and backing North Sea oil and fuel, and the steps it has taken to make sure essential vitality infrastructure is protected against disruptive protests.
Energy business leaders can see that this Government will again homegrown, safe vitality – whether or not that’s renewables, our revival in nuclear, or our assist for our very important oil and fuel business within the North Sea
He will point out the Public Order Act, working with the police to make sure protesters can not achieve unauthorised entry to websites, and the work of the Civil Nuclear Constabulary, whose 1,300 officers and 300 assist workers function to guard nuclear websites throughout England, Scotland and Wales.
Mr Shapps stated: “We need to send the message loud and clear to the likes of Putin that we will never again be held to ransom with energy supply. The companies I am meeting in Downing Street today will be at the heart of that.
“Energy industry leaders can see that this Government will back homegrown, secure energy – whether that’s renewables, our revival in nuclear or our support for our vital oil and gas industry in the North Sea.
“But it is a sad reality that we also need to protect our critical national infrastructure from disruptive protests.
“Today I’ll be setting out what we are doing to achieve this and want to hear from the energy companies the vital work they are doing in this area.”
Earlier this week, Prime Minister Rishi Sunak introduced that tons of of latest oil and fuel licences can be granted within the UK and confirmed that north-east Scotland and the Humber have been chosen as areas for 2 new carbon seize utilization and storage clusters.
According to the Department for Energy Security and Net Zero, Shell UK goals to speculate £20-25 billion within the UK vitality system over the subsequent 10 years, with greater than 75% meant for low and zero-carbon services and products.
BP intends to speculate as much as £18bn within the UK to the top of 2030 and SSE plc have introduced plans to speculate £18bn as much as 2027 in low carbon infrastructure creating 1,000 new jobs yearly to 2025.
Moreover, National Grid plc can be investing over £16bn within the five-year interval to 2026 and EDF have outlined plans to speculate £13bn to 2025.
The assembly comes after BP reported on Tuesday it had made round 2.59 billion US {dollars} (£2 billion) in underlying alternative value revenue over the three months to the top of June.
When requested concerning the announcement throughout a go to to Teesside’s Transmission System Gas Terminal on Tuesday, Mr Shapps stated: “I think what people want to know is that they (BP) are being properly taxed, and we’ve been taxing them 75% of their profits through this windfall tax, and that we’ve used that money to pay about £1,500 per household to cover people’s energy bills this last winter.
“It may not have felt that way, but (bills) would have been £1,500 on average higher if we hadn’t taxed the energy companies.
“So they have been playing their part. BP is a big global company, those profits will come from all around the world.
“But we want to make sure that they’re doing their part, but that they have money to carry on investing.
“This week I’m meeting with BP and others in Downing Street to talk about £100 billion of investments by oil and gas companies, for example, into renewable energy, hydrogen and carbon capture and storage.
“So they do have to make money in order to be able to invest that money. But I have made sure, we have made sure as a Government, that they have been taxed at a very punitive level.
“And that money has come straight to households and businesses over this last, difficult winter.”