News

UK Government unveils updated Energy Security Plan

Published: 30-03-2023

The Government has today (30th March) published a new Energy Security Plan, pledging to upgrade 300,000 of the country’s least energy-efficient homes, support carbon capture and storage projects and accelerate the development of green hydrogen, nuclear and floating offshore wind.

Prime Minister Rishi Sunak said that measures introduced today would help respond to “soaring” household energy bills.

“We have stepped in to shield people from its worst impacts by helping to pay around half the typical energy bill,” Sunak said. “But we are also stepping up to power Britain and ensure our energy security in the long term with more affordable, clean energy from Britain, so we can drive down energy prices and grow our economy.

“That’s why we’re driving forward plans to boost renewables, revive nuclear and build new thriving industries like carbon capture, which will in turn create good jobs across the country, provide new opportunities for British businesses at home and abroad, and maintain our world-leading action to reach net-zero.”

Highlights of the strategy include:

Great British Insulation Scheme

• The Government has stated that the Scheme will upgrade 300,000 of the country’s least energy-efficient homes.
• Up to 80% of homes in council tax bands A-D will qualify for support under the revamped ECO+ scheme and could save around £300-400 annually on average.
• New £30m million Heat Pump Investment Accelerator which will aim to leverage £270m in private investment to boost UK manufacturing of the technology.
• The Boiler Upgrade Scheme, which offers a £5,000 grant to anyone buying a heat pump, will be extended to 2028.

Hydrogen

• The Government unveiled the first set of green hydrogen projects to be supported by the £240m grant funding introduced last year, which was designed to support projects developing and building low-carbon hydrogen production projects.

Nuclear

• The UK is aiming to host 24GW of installed capacity by 2050, meaning that nuclear supply will meet 25% of the UK’s electricity demands by mid-century.
• The official formation of the independent body overseeing the nuclear industry has been confirmed as Great British Nuclear.

Floating offshore wind and other renewables.

• The Government will establish a new solar industry taskforce to develop plans for the UK to host 70GW of solar by 2035.

To read about the new strategy in more detail visit: https://www.gov.uk/government/publications/powering-up-britain

Comment by Carl Arntzen, Worcester Bosch CEO in response to Energy Security Day

“At Worcester Bosch we are passionate about creating and rolling out greener home heating solutions to help businesses, homeowners, residents, and our industry reduce our carbon footprint – and hit important net zero targets set by this Government.

“With this in mind, it is positive to see the Government announce The Great British Insulation Scheme, which brings new grants that could help approximately 80% of homes in low efficiency bands improve their property’s EPC rating. This is a welcome step towards preparing the UK’s housing stock for future greener heating solutions.

“It is also good to see the Government taking an agnostic approach when it comes to natural gas alternatives. The Boiler Upgrade Scheme’s two-year extension plus the confirmed investment into both UK manufacturing of heat pumps and green hydrogen production are all very welcome. It alludes to key decision makers now appreciating that to solve the tricky challenge of decarbonisation, there is no one silver bullet.”