UK Urged to Set Up Strategic Energy Reserve for Power Network [BNN Bloomberg (Canada)]
CENTRICA PLC S/ADR (CPYYY)
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Source: BNN Bloomberg
events and periods of low-renewable generation, an influential committee has warned. Commercially available storage is dependent on energy trading, meaning there's no guarantee it would be available during a crisis, the House of Lords Science and Technology Committee said in a report published Wednesday. “This is why a strategic reserve will need to be operated under different arrangements that will ensure it is available when it is most needed,” it added. The study is the result of the panel's inquiry into net zero policies as Britain seeks to decarbonize its electricity system by 2035. Prime Minister Rishi Sunak's government has started to water down that plan, allowing gas-fired plants to be built into the next decade to ensure the lights stay on during times of low solar or wind output. If the UK does hope to achieve its climate goals, construction of long-term storage needs to begin soon since the facilities can take 7-10 years to build, according to the House of Lords pa
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