Transforming our energy system is no longer just about hitting net zero targets and tacking climate change – as important as they are – it is also about national security.
Cheap, clean, homegrown energy is the solution. If it isn’t clear enough already: net zero is the solution to the global gas crisis, not the cause.Įxpensive gas is the problem. The wholesale price of gas on the European market has increased by 500% in recent months – so much so that almost every renewable technology is now cheaper. In light of rising global energy prices, provoked by surging demand after COVID-19 as well as Russia’s criminal invasion of Ukraine, there is a renewed focus by national governments on energy security – and clean energy independence. However, there is a more immediate issue the international community is grappling with. This is how we will deliver net zero by 2050 – working in partnership with business, science, and academia. We understand the power of our treasured free-market economy to leverage private capital and unleash Britain’s unique entrepreneurial spirit to grow new industries.
The way to decarbonise isn’t through a planned economy, but through the British way: science, innovation powered on by free enterprise. …there is one lesson that is still true today: the need to unleash the power of competition, innovation, and private enterprise within a free market economy.įrom offshore wind to battery technology, the private sector has developed and deployed incredible technology that will change our lives for the better. While this was drafted in a completely different era – before Brexit, net zero targets and COVID-19 – and the role of the state has invariably changed since…. Thank you to my friend, colleague and senior fellow Chris Skidmore for inviting me today.Ĭhris and I once co-authored a little-known book together, ‘Britannia Unchained’.
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