UK households could take measures to cut their dependence on foreign energy imports by 80% in the next five years, protecting them from repeats of the volatile energy prices seen in the last few years.
According to new analysis from the non-profit information provider Energy and Climate Intelligence Unit (ECIU), currently the average British home relies on imports for 67% of its energy use, with the majority being foreign fossil fuel imports for petrol cars, gas boilers and gas power stations that generate electricity.
Go deeper with GlobalData
The report recommends that British homes switch to electric cars and heat pumps that run off renewable energy, insulate homes to reduce heat waste, and increase domestic renewable energy production.
Such measures would stabilise energy costs while cutting the need for imports without the need for further North Sea exploration, according to the ECIU, which, according to its website, supports “informed debate on energy and climate change issues in the UK.”
Without this change, the typical UK home will import three megawatt-hours (MWh) more energy in 2030 than in 2024, an increase of around 20%.
If there are no new renewables upgrades and the UK continues licensing oil and gas exploration, by 2030, 20MWh of imported energy will be consumed by households throughout the year, 85% higher than the 3.4MWh of imported energy that would be needed if households were supported by more renewables.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataDr Simon Cran-McGreehin, head of analysis at ECIU, said: “Here is a real opportunity in the next parliament for the new government to help more households buy British when it comes to energy, helping them to make the switch to be powered by British renewables that won’t run out.
“New exploration in the North Sea is largely irrelevant for energy security, likely to make only a very marginal difference, and certainly not to bills, given prices are largely set internationally. If you are not focused on renewables, you are not focused on energy independence. That is simply the way the numbers stack up.”
John Browne, former head of BP, recently said the next UK Government should “call a halt” to new North Sea oil and gas projects.
