The UK has fallen out of the top 10 of a respected international league table of countries’ energy sectors for the first time. The World Energy Council blamed the government’s lack of clarity and myriad changes which it said have left the country facing a potential gap in energy supply. The UK has previously been one of the top performers in the council’s “Trillema Index”, which has ranked countries on energy security, costs and decarbonisation efforts for the last six years. But the Brexit vote, cuts to renewable energy subsidies and planned changes on foreign ownership have created investment uncertainty and significant challen ges for the UK, according to the latest edition of the index for the London-headquartered agency, whose members include energy companies across the world. The UK was also added to a watchlist of countries where negative changes are expected imminently, alongside the US, Germany and Japan. Denmark, Sweden and Switzerland took the top three positive slots in the ranking, with the UK now 11th. Despite the recent decision to go ahead with new nuclear reactors at Hinkley in Somerset, the UK had a “distinct lack of policy direction”, the council’s chief said. “Challenges in terms of improving affordability, and delivering security of supply as North Sea assets deplete, coupled with the rundown of worn-out legacy infrastructure, including coal-fired generation, has left the UK with a potential energy gap,” said Joan MacNaughton, executive chair of the council. “Renewables are increasing as a percentage of the UK energy mix but their output is not yet at a level where energy security can be guaranteed.”
Guardian 11th Oct 2016 read more »