Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

Britain faces huge challenge to meet 2030 clean power goal, grid operator says
Offshore wind turbines and sailboats on the sea

Published : , on

By Susanna Twidale

LONDON (Reuters) – Britain faces a huge challenge to meet its goal of decarbonising the electricity system by 2030 with rapid reform required, the country’s National Energy System Operator (NESO) said in a report for the government on Tuesday.

The decarbonisation target, which will mean moving away from fossil fuels and a rapid increase in wind and solar power, is part of Britain’s efforts to reach its wider climate goals.

The government asked the NESO to provide advice on how the power target can be met.

“Clean Power is a huge challenge but is achievable for Great Britain by 2030,” the report said.

However, rapid reform of the system for connecting new projects to the grid is needed along with an overhaul to the planning process, the report said.

Britain will need to contract more offshore wind capacity in its next two annual renewable auctions than it has done in the previous six, building an additional 28-35 gigawatts (GW) by 2030.

A more than doubling of onshore wind capacity is needed, to 27 GW from 13 GW now, while solar capacity will need to treble to 47 GW from 15 GW, the report said.

Britain’s Energy Secretary Ed Miliband said the report showed the target can be met.

“The government is determined to ensure the significant reforms to planning and grid we need so we can back the builders and support investors to make this once in a generation upgrade of Britain’s energy infrastructure happen,” Miliband said in a separate statement.

The NESO said moving to cleaner power would not increase the overall cost of Britain’s energy system and that it will help protect the country from future fossil fuel price shocks.

Consumer energy bills hit a record high in 2022 following Russia’s invasion of Ukraine as global gas prices soared, pushing up gas costs for heating and also electricity generation.

 

(Reporting By Susanna Twidale; Editing by Kirsten Donovan)

 

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post