Press

Energy security must be prioritised with the climate agenda in mind

           Press

The current crisis in the energy markets has seen oil trading at over $130 a barrel, gas prices at record levels, and the prospect of physical shortages if Russian supplies are curtailed as a result of the events in Ukraine.

Prices at these levels are already hitting business users hard, especially energy intensive industries that tend to be more directly exposed to changes in wholesale energy prices, and the risk of economic damage is high.

The UK and other European governments are urgently reviewing their energy policy in order to ensure supplies keep flowing – something that will be much harder to achieve if dependence on Russian oil and gas is to be reduced.The flexibility of the international markets to respond is limited, and there is not much more OPEC countries can do to increase oil supplies.

The UK government is therefore looking at how North Sea production could be increased and is expected to make announcements shortly on accelerating the roll out of renewables like wind and solar, new initiatives to improve energy efficiency, and continuing investment in low carbon nuclear for the longer term.

Recent events have strengthened the case for reducing dependence on fossil fuels, so it is no surprise that UK and European governments remain committed to their long-term objective of achieving Net Zero emissions by around 2050.  But the route by which we get there may have to be altered, at least in the immediate future, if our energy supplies are to remain secure.

As John Hall, Chairman of Alfa Energy Group, stated in a recent podcast hosted by Corporate Affairs Officer, Jeremy Nicholson:

“In the shorter term, we are going to have to look at whatever we can to keep the lights on and keep industry running.”

The article can be found here: Energy Digital Magazine


Alfa Energy Group

Alfa Energy Group is an international energy, water, and sustainability consultant partner with 200 employees over 4 international locations. For over 25 years, Alfa has been servicing its clients’ needs through energy and water management, sustainability, and compliance consulting, and an intuitive ecosystem of user-driven energy, water, and carbon management software platforms. With coveted awards, an international industry-wide recognition, and clever simple solutions, today Alfa is partnering with clients to establish and deliver pivotal net zero strategies. Through smart energy management, the expertise and diligence of its people, transparent processes, and data management, Alfa continues to lead through its recognised gold standard of service delivery.