UK energy secretary Ed Miliband (left) with UK Prime Minister Kier Starmer (centre) and Scottish Labour leader Anas Sarwar at the St. Fergus Gas Terminal
Can the UK take its foot off the gas?
While the government might complain about the vicissitudes of the international gas market, the UK's transition away from the fuel is fraught with challenges
UK energy secretary Ed Miliband often decries the fact that the country’s dependence on imported oil and gas has left it in the grip of “dictators and petrostates”. It is true the country has learned a hard lesson about the dynamics of the global gas market in the recent energy crisis. The dominant narrative from the UK government and energy regulator Ofgem is that the only way to improve the UK’s energy security is to accelerate the energy transition. 36.5% – Gas’ share of UK inland energy consumption in 2023 Ofgem CEO Jonathan Brearley recently stated that “our reliance on international gas markets leads to volatile wholesale prices and continues to drive up bills, which is why it
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