Energy Transition Outlook 2019

TR & NSITION ENERGY

Energy Transition Outlook 2019

Report at a Glance

449Mt CO 2

e

0Mt

Current UK GHG emissions:

compared to the current 2050 target of

3% 151Mtoe

(or 21% below peak in 2007) 206Mt 24Mtoe 57Mtoe and

Estimates suggest emissions including those embedded in imported products have only fallen

from 1997 to

of which around is for power generation

Oil and gas demand

is for transport

The UK oil and gas industry is in a unique position to lead in the development of CCUS , with 175Mt The CCC estimates that up to

of CO 2 /year will need by 2050 5 projects situated across the country currently being explored to be captured and stored in the UK

4.5 million homes with electricity when it comes into operation in 2023

Offshore wind remains a key part of the energy transition and the decarbonisation of many sectors. Equinor’s Dogger bank has the potential to provide

9.3GW with 4.4GW in construction and a further 7GW commissioned. The CCC note a target of 75GW by 2050 to support decarbonised power. The clearing prices for these projects currently stands between £39.650 per MWh and £41.611 per MWh.

Offshore Wind capacity

currently stands at

10