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The UK's clean energy future
05 March 2025
Type
Written Ministerial Statement
Department
Department for Energy Security and Net Zero
At a Glance
Issue Summary
The statement discusses a consultation launched by the Department for Energy Security and Net Zero on managing oil and gas assets in the North Sea while transitioning to clean energy.
Action Requested
The government is consulting on how to manage existing fields throughout their lifespan, enact commitments not to issue new licenses for exploration of new fields, and coordinate the scale-up of industries such as offshore wind, carbon capture, hydrogen, and decommissioning. The consultation also includes a fiscal regime response to future price spikes in oil and gas.
Key Facts
- Consultation launched on managing North Sea's energy transition.
- Government will not issue new licenses for exploring new fields.
- Great British Energy headquarters to be located in Aberdeen.
- Record-breaking renewables auction overseen by the government.
- 'Skills passport' initiative for offshore workers is being moved forward with industry and unions.
- HM Treasury and HM Revenue & Customs consultation on Oil and Gas Price Mechanism.
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Assessment & feedback
Summary accuracy