The Energy Sector: Future energy needs

YORKSHIRE’s future energy needs, like much of the UK, are changing, but the drivers behind the increasing energy requirements offer opportunities for business.

Infrastructure needs, disappearing power stations, demands from industry, and changing working and living habits are just some of the factors influencing our future energy needs.

Add to this the calls for increasing use of renewable energy – covering everything from wind turbines to carbon capture and storage and ‘clean coal’ power stations – and the UK’s energy landscape is set to be transformed in the next few years.

In-depth analysis on this subject, and other key issues the energy sector, can be read in the supplement, in association with law firm Addleshaw Goddard, which is available to download from today.

Yorkshire is in a good place to capitalise on the opportunities the evolution of the energy sector offers, according to experts – and organisations are already taking advantage.

Richard Goodfellow, partner and head of energy at law firm Addleshaw Goddard, says future energy security is a “key issue” for business.

“What’s driving increasing energy requirements is a collection of factors,” Mr Goodfellow said. “The first is policy drivers that go back to Kyoto and earlier of, in effect, trying to find ways to make the cost of carbon more transparent.

“This policy driver, allied to a global increase in demand for fossil fuels because of the rise of the BRIC (Brazil, Russia, India and China) economies, has led to increased energy costs.

“We are also, as a nation, still very wasteful in our use of energy in comparison to much of Scandinavia for example. These factors together drive the need to make energy security a key issue for consideration.”

Other issues explored in the supplement include how Yorkshire is boosting its economic fortunes thanks to a number of energy projects; the regulatory pressures on the sector; and a round table discussion on the opportunities in this region.