Speaking at Chatham House Energy Transitions conference in London yesterday (1 March), Energy Security Secretary of State, Grant Shapps, set out his main objectives for the Department of Energy Security and Net Zero (DESNZ).
Shapps recounted that Putin’s illegal war in Ukraine “marks a crucial turning point for Britain’s energy resilience” by accentuating Britain’s urgency for the transition to a more sustainable energy system powered by renewables.
The creation of DESNZ – almost twice the size of the Department of Business, Energy & Industrial Strategy (BEIS) it was borne from – means energy and net zero can now receive “the full and dedicated attention they palpably deserve,” Shapps added.
To this end, Shapps announced the following objectives for the department:
- To set Britain on a path to energy independence
- To reduce consumer bills as quickly as possible, creating some of the cheapest wholesale in Europe
- To decarbonise Britain’s energy
- To help reduce inflation and boost economic growth
The speech at Chatham House differed from its pre-release which reported that Shapps would call on energy suppliers to pass on the economic benefits from lower wholesale prices as quickly as possible “no ifs, buts or maybes”.
Nevertheless, this was not included in yesterday’s speech.
“Putin’s invasion of Ukraine demonstrated something that the UK already appreciated – fossil fuels are not the future. Instead, greater energy independence, by investing in renewables and nuclear, is the way to ensure aggressors can never again hit people’s energy bills,” concluded Shapps.