The success of the UK’s power transition will depend on collaboration between companies to keep up a strong provide chain, based on power specialist Aggreko, discussing the launch of its newest analysis.
“Rebalancing the Energy Transition” stories that CEOs within the UK cite provide chain points as the primary danger to the power transition, adopted by lack of funding and entry to know-how.
This concern over the impression of provide chain comes because the UK authorities has reaffirmed its dedication to renewable power manufacturing and infrastructure by way of its Clear Energy 2030 dedication. The brand new initiative is aimed toward overcoming boundaries and accelerating progress on power initiatives, together with the current plans to offer approval energy for onshore wind initiatives over 100MW to authorities ministers(1) over native authorities.
Clearly, profitable rollout of infrastructure for renewable power manufacturing and transmission, together with the power transition of companies throughout the UK, would require revolutionary methods of considering throughout the power provide chain.
Aggreko’s analysis confirmed that ambition across the power transition amongst power intensive companies can also be robust, with eight in 10 UK CEOs stating they may improve funding within the power transition over the following 12 months. Although 9 in ten (or 9 in 10) UK respondents cited they’ve adjusted timescales round power transition targets, the UK has the very best proportion of CEOs (52%) throughout the nations surveyed that acknowledged they’ve solely adjusted quick time period targets and stay on observe for internet zero targets.
With ambition from companies matching that of the federal government when it comes to sustainability targets, Aggreko is highlighting how the whole provide chain should work collectively to make sure a profitable power transition.
Alan Dunne, UK and Eire Managing Director at Aggreko, mentioned: “With continued uncertainty round power value and resilience, companies within the UK are going through the problem of balancing profitability and sustainability. Very like the federal government and its Clear Power 2030, UK companies stay bold in making their power transitions. Nevertheless, our analysis has discovered that boundaries and challenges nonetheless stay, though the ambition to fund the power transition is there.
“High energy costs and fluctuating energy security and resilience has continued to be a challenge for businesses, however, supply chain issues are clearly the biggest risk posed to energy transitions in the eyes of leaders. To overcome all of these challenges at once, it is imperative that businesses engage with expert partners across the supply chain to identify practical ways to reach ESG goals while keeping operations efficient and profitable.”
Because the UK continues to develop renewable power manufacturing and infrastructure, the report highlights the challenges round placing the suitable steadiness between industrial and ESG ambitions with power procurement. A key a part of that is working intently throughout the power provide chain to evaluate necessities and challenges to decide on essentially the most sensible resolution to ship effectivity and environmental advantages. Offering the newest environment friendly applied sciences by way of its Greener Upgrades portfolio, reminiscent of battery power storage options and Stage V turbines, is a central a part of Aggreko’s sustainability framework Energising Change
Dunne continued: “Making a success of the energy transition relies heavily on businesses having the right technologies and solutions for their requirements, along with the expertise to implement it correctly. While reliable energy supply and stable costs remain in the balance for the UK, working with expert energy supply partners can provide businesses with this to provide resilience and cost efficiency throughout the energy transition.”
