"It is right to point out, as that report did, that in due course we may once again be a net energy exporter, as we were during the peak of oil and gas in the North Sea, and that’s a very exciting prospect."
The Offshore Valuation report, published in May 2010 by the Offshore Valuation Group concluded that using a third of the energy resource around our shores could generate the electricity equivalent of one billion barrels of oil annually, matching North Sea oil and gas production and allowing Britain to become a net exporter of electricity by 2050.
Maria McCaffery MBE, Chief Executive of RenewableUK said:
"We welcome the plans to introduce a new Energy Bill and the focus on promoting low carbon energy production. This will be an opportunity for a radical overhaul of the energy infrastructure in this country to secure future supply. Renewables are set to play a significant role in the new energy mix but the policy framework to deliver must be in place. We need a grid system that can cope with the energy demands of the 21st century and the mechanisms for attracting necessary sector investment, such as the Renewable Obligation must remain."
RenewableUK is the trade and professional body for the UK wind power and marine renewables industries. Formed in 1978, and with 600 corporate members, RenewableUK is the leading renewable energy trade association in the UK. Our primary purpose is to promote the use of renewable power in and around the UK, both onshore and offshore. We act as a central point of information for our membership and as a lobbying group to promote renewable energy to government.
For details of the Offshore Valuation report please go to www.offshorevaluation.org/
To view Chris Huhne’s speech in Parliament please go to