Regulatory round-up

New nuclear and oil and gas projects are part of the UK’s energy security strategy announced yesterday. Under the plans, in addition to greater investments in offshore and onshore wind, solar, heat pump manufacturing and low-carbon hydrogen production, the British government will revamp its nuclear power generation with the creation of a new body, Great British Nuclear, which “will be set up immediately to bring forward new projects, backed by substantial funding,” and the launch of a £120 million Future Nuclear Enabling Fund later this month.

More contentiously, the UK’s plans, labelled British Energy Security Strategy, include a fresh licensing round for new oil and gas projects in the North Sea that will be launched towards the end of the year (though this is labeled as a short-term strategy). And there will also be “a new taskforce providing bespoke support to new developments – recognising the importance of these fuels to the transition and to our energy security,” according to the government announcement, which also notes how gas produced in the UK would have a lower carbon footprint than that imported from abroad.