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UK Net Zero Transition Needs to Account for Energy Security – House of Lords

The UK House of Lords Economic Affairs Committee has called on the government to publish a net zero strategy which sufficiently accounts for energy security and avoids a “disorderly” transition. The committee’s report said the government should take note of current public concerns over high energy bills to ramp up home insulation efforts and other measures to improve energy efficiency, as well as “urgently” seeking an energy co-operation agreement with other European Nations, as there is currently no agreement in place to manage energy supply emergencies. It further made several recommendations for the government to undertake to reach its 2050 net zero objective, including designing market models for low carbon technologies – like long-duration storage, blue and green hydrogen, and carbon capture and storage – to make energy pricing more predictable. The UK’s upcoming critical minerals strategy outlines the steps necessary for the UK to avoid becoming reliant on strategic competitors, such as China, for key minerals needed for low-carbon technology, the report said. Lord Bridges of Headley, the Economic Affairs Committee Chair said: “Action is needed to build investor confidence, mobilise more capital and accelerate the deployment of renewables in the decades to come. The message to the government is clear: act now to avoid falling into the gap between [its] ambitions and practical plans for delivery.” 

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