New UK legislation is set to address the country's energy security with measures that include increasing powers to prevent “undesirable” owners from taking control of oil and gas and carbon, capture and storage (CCS) licences.
The Energy Security Bill was introduced to Parliament on Wednesday. It includes 26 measures to reform the UK's energy system and reduce its dependence on fossil fuels and exposure to gas price volatility.
The Conservative government hopes the bill will help drive £100 billion ($120 billion) of private-sector investment by 2030, supporting hundreds of thousands of lower-carbon energy jobs in sectors linked to offshore wind, hydrogen and other sources of clean energy.
