UK Sets Out For Further Nuclear And Fracking Investment

With the news coming from Brussels that a by any means necessary approach would be acceptable for the goal of reducing a carbon emission by 2030 the UK is looks set to build on it’s increasingly dwindling Nuclear power plants. What could also cause more conjecture will be the UK governments look to further exploit the burgeoning shale gas market. With mounting objection to many fracking facilities which either are either being commissioned or conducting exploratory work to seek future commissioning the anti-fracking campaign is only set to intensify over the coming years.

Fracking Plant

The EU’s new target to meet 27% of energy from renewable sources by 2030 which is to be spread across all EU members has given the go ahead the ability to decide the best ways in which to do this. A further green light for the UK was confirmed when the EU Commission stated it would not introduce any laws to halt shale gas production. This comes as a huge boost to the industry who had been holding their breath to see if they could press on to begin large scale projects throughout the UK to proliferate the UK large scale Shale Gas deposits.

One of the highlighted concerns to come out of the momentous EU rulings is to be the impact such decisions will have on UK and other European country’s renewable industry market with with wind and solar panels companies expected to see a cut in future government projects. While countries such as Germany and France amongst other were against actions to reduce the renewable targets after 2020

On Wednesday, the EC stated that EU governments should cut their greenhouse gas emissions by 40 percent compared with 1990 levels. Current national targets aimed at boosting the share of renewable energy to 20 percent would not be renewed after 2020. It was ruled by the EU that going forward the targets had to be while achievable they also had to be affordable.

The key concern here that can’t be ignored for such industries like solar power and wind generation is the word ‘affordable’ as for a longtime large energy companies have complained of energy market subsidies given to green electric. Now with the shale gas argument removed from any potential EU objections such industries could likely see funding cut in favor of fracking which is far more cost effective in the Governments eyes at least.

Such declarations has given the UK cause to claim this is all good news for the UK economy as the shale gas industry could develop in the coming years into a major UK energy market. However green campaigners couldn’t be more against the plans with members of Greenpeace and other organizations stating they feel let down by the EU decisions as they are putting money before the environment and that the climate will only suffer as a reaction of such ill taken measures to place no targets on individual EU countries and force Europe backwards.

Some previous related articles of interest:
The role banks play in the renewable power
The Green Deal and what it means to renewable energy financing
Long term plans for community solar panel funding

UK Sets Out For Further Nuclear And Fracking Investment
Will Nuclear and Shale have a long term place within the UK energy landscape.

SolarKing UK
Nuclear power, Shale Gas
Just how the UK government continues to invest in Nuclear and shale gas production.

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January 27, 2014
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