UK Energy Firms Meet Shapps to Discuss Security and Net Zero

(Bloomberg) -- Britain’s energy industry will sit down with Energy Security Secretary Grant Shapps on Wednesday to discuss energy security and accelerating investments into low and zero carbon projects.

The meeting at Downing Street, with leaders from Shell Plc, BP Plc, SSE Plc, Electricite de France SA and National Grid Plc, will focus on existing plans by the companies to invest more than £100 billion into the UK’s energy industry including spending on renewables, nuclear power, and North Sea oil and gas.

The meeting comes just days after Prime Minister Rishi Sunak committed to granting hundreds of new licenses for oil and gas production in the North Sea, citing strengthening the nation’s energy security. The government says it’s focusing on “home-grown” energy sources to enable Britain to be less vulnerable to price volatility and disruption on international fossil fuel markets but has faced criticism for appearing to be backing away from tackling climate change. 

“Energy industry leaders can see that this Government will back home-grown, secure energy - Whether that’s renewables, our revival in nuclear, or our support for our vital oil and gas industry in the North Sea,” Shapps said in prepared remarks. 

Shapps will also lay out measures that the government is taking to protect energy infrastructure from protests. Groups like Just Stop Oil have staged highly disruptive protests at Kingsbury and Thurrock oil terminals and Grangemouth refinery, where they have blocked roads and tunnels to prevent oil distribution as well as handcuffing themselves to railings to prevent removal. 

“We also need to protect our critical national infrastructure from disruptive protests.  Today I’ll be setting out what we are doing to achieve this and want to hear from the energy companies the vital work they are doing in this area.”

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